New Jersey asks the Supreme Court to take on prediction markets

* NJ petitions Supreme Court on prediction market oversight * Circuit split creates uncertainty over CFTC vs state authority * DraftKings and Flutter shares rose after filing New Jersey has asked the Supreme Court to resolve whether states or the CFTC regulate prediction-market event contracts. The request follows conflicting April and September rulings by the 3rd and 9th Circuits on CFTC jurisdiction over sports-related contracts. The petition cites the split as grounds for certiorari and argues the 3rd Circuit erred in deeming all such contracts federal swaps. Shares of DraftKings and Flutter rose more than 5% on the news.