Recent petitions for certiorari in Kalshi-related litigation have placed the legality and preemption of CFTC-regulated sports event contracts before the Supreme Court, creating a circuit split after the Third Circuit permitted such markets while the Ninth Circuit allowed Nevada to enforce state gambling rules. Amicus briefs filed in early October 2026 by the NFL, former CFTC Chair Gary Gensler, gaming regulator associations, and tribal groups urge review, citing regulatory uncertainty and federalism concerns. New Jersey and other parties seek clarification on whether the Commodity Exchange Act overrides state authority over these contracts. Trader sentiment reflects the timing of conference votes and the Court’s response deadline in November, with resolution hinging on whether the justices grant review before year-end amid ongoing lower-court proceedings.