Atlantic City's casino industry is calling on federal authorities to crack down on prediction market platforms that allow users to place wagers on sporting events in violation of state gambling laws.
The Casino Association of New Jersey submitted comments on Monday to the U.S. Commodity Futures Trading Commission requesting the agency prohibit companies like Kalshi and Polymarket from offering such contracts. The federal agency is currently evaluating how to regulate the rapidly growing market for event-based contracts.
The casino association's request specifically targets states where sports betting remains against the law, arguing these prediction market platforms should not be permitted to operate there.
New Jersey previously attempted to ban Kalshi from conducting business within the state, but a federal court rejected that effort. The setback has prompted the industry to seek intervention at the federal level instead.
The Garden State played a pivotal role in expanding sports betting nationwide. New Jersey's 2018 Supreme Court victory opened the door for all 50 states to legalize sports wagering if they choose to do so. Today, more than two-thirds of states have taken advantage of that opportunity and now permit legal sports betting within their borders.
The casino industry's push to limit prediction markets reflects ongoing tensions over how these platforms should be classified and regulated as they continue to gain popularity across the country.
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Peter Killeen
A 25-year radio news veteran, Peter covers South Jersey for NewsTalk 1400 & 92.3 WOND radio. Known for his concise and impactful delivery, he ensures listeners and readers stay informed without unnecessary filler.
