The National Football League has asked the U.S. Supreme Court to take up New Jersey's case against Kalshi, challenging how sports-betting activities conducted through prediction markets should be regulated.

The league argued that certain sporting-event contracts could threaten game integrity because a single participant could influence outcomes.

It cited data showing about $1.8 billion of the $3.3 billion in prediction-market trading volume was tied to NFL activity on the season's opening Sunday.

As of Thursday, the Supreme Court had not announced a decision on whether to review the case, and Kalshi spokesperson Dani Lever has argued the company should not be regulated by 50 different regulators.