World · Regulation · United States ·
US Supreme Court petition filed over state authority on prediction markets
New Jersey's Attorney General and gaming authorities filed a petition for certiorari to the US Supreme Court over Kalshi offering sporting event prediction contracts to residents. Multiple appeals courts have ruled differently on whether states can restrict prediction markets.
Why it matters for the crypto market
A fundamental jurisdictional conflict over crypto-based prediction markets is heading to the highest US court, which could clarify regulatory authority and determine whether states or federal regulators have power over this emerging market.
Source: cointelegraph.com
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