Prediction market exec says gambling fight could reach Supreme Court by June | Fortune
Fortune
Prediction market exec says legal battle over regulation could reach Supreme Court by June.Summary
Prediction market executive Flip Pidot warns that the ongoing dispute between the Commodity Futures Trading Commission and state gambling regulators could force the U.S. Supreme Court to decide the issue by June. The CFTC argues its authority under the Commodity Exchange Act, while states contend that event contracts constitute unlicensed sports wagering, violating the Tenth Amendment. Recent appellate decisions, including a Third Circuit ruling favoring Kalshi, have highlighted a potential circuit split that may prompt high‑court review. Economic concerns include threats to casinos, Native American gaming revenue, and the broader financial impact of prediction markets.
(Source：Fortune)