New Jersey asks Supreme Court to resolve fight over Kalshi's future

New Jersey officials, including the Attorney General and gaming authorities, have filed a petition for a writ of certiorari to the US Supreme Court. The legal action targets Kalshi for offering sporting event contracts to residents. If the high court accepts the petition, the resulting case could have sweeping implications for prediction markets. This industry has already facilitated billions of dollars in betting across various aspects of modern life, making the resolution of this fight critical.