[NFL Submits Opinion to U.S. Supreme Court, Claims Sports Prediction Contracts Are Gambling, Not Swaps] According to The Block, the National Football League (NFL) submitted an amicus brief to the U.S. Supreme Court on October 8, supporting New Jersey regulators in their case against prediction market platform Kalshi. The NFL argued that sports contracts offered by prediction markets like Kalshi constitute gambling rather than swaps, and therefore should not fall under the exclusive jurisdiction of the CFTC but instead be regulated at the state level. The NFL urged the Supreme Court to take up the case. The NFL stated that of the $3.3 billion in trading volume on prediction markets during the first Sunday of this season, nearly $2 billion was related to NFL events. Kalshi responded by stating that the CFTC is already regulating sports-related markets and that federal oversight provides more uniformity compared to regulation by individual states.