NFL Urges Supreme Court To Let States Regulate Kalshi Sports Bets

The National Football League asked the U.S. Supreme Court on Oct. 8 to let states regulate sports-event contracts offered by Kalshi and other prediction markets, arguing the products are sports bets rather than federally regulated swaps.

The NFL backed New Jersey’s petition in Flaherty v. KalshiEX LLC, docket No. 26-299. The case could decide whether state gambling laws apply to prediction-market contracts, while Kalshi argues its products trade as swaps on a federally regulated designated contract market.

The league said the Third Circuit erred April 6 by holding that Kalshi’s contracts fell under the Commodity Exchange Act and that the Commodity Futures Trading Commission had exclusive jurisdiction. The NFL supported the opposing approach taken by the Sixth and Ninth circuits, which allowed state oversight of similar contracts.

The NFL also argued that state-regulated sportsbooks generally require customers to be at least 21, while customers as young as 18 can trade sports contracts on designated contract markets. The league said NFL-related contracts made up $1.8 billion of $3.3 billion in prediction-market trading volume on the first Sunday of the 2026 season.

The Supreme Court has not decided whether to hear the case. Kalshi’s response to the petition is due Nov. 9.