By The Weekly Edge desk ·
New Jersey has petitioned the US Supreme Court to clarify whether sports event contracts fall under federal regulation or state gambling laws, reported by Online Poker Report. The court has yet to decide whether to hear the case.
The case could determine whether operators offering sports event contracts must comply with state gambling licensing and tax requirements.
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The partnerships give the tribes customer-facing apps while Kalshi operates the underlying exchange and settles transactions.
Four additional tribal agreements give tribes app ownership and customer management while Kalshi supplies exchange services.
Kalshi’s sponsorships expand MLB prediction market partnerships, with four new partners playing in states that prohibit sports betting.
The agreements give Kalshi advertising exposure and fan engagement opportunities across five MLB teams.
The case could affect whether states can regulate sports prediction markets and the safeguards operators face.
Prediction market exchanges face a CFTC warning about manipulation risks involving public figures’ statements or actions.