The city’s casinos are asking the federal government to prohibit prediction markets like Kalshi and Polymarket from taking bets on sporting events that violate state gambling laws.
In comments submitted Monday to the U.S. Commodity Futures Trading Commission, the Casino Association of New Jersey asked the agency, which is considering how to govern the exploding market for event-based “contracts,” to prevent companies from offering such bets, particularly in states where sports betting is illegal.
The state has tried on its own to ban Kalshi from operating in New Jersey, but was rebuffed by a federal court ruling.
New Jersey’s 2018 Supreme Court victory cleared the way for all 50 states to offer legal sports betting should they so desire, and more than two thirds of them currently do.
