NFL tells Supreme Court prediction market sports contracts are gambling, not swaps

Crypto Insight Summary: The NFL filed an amicus brief urging the Supreme Court to hear New Jersey's case, arguing Kalshi's sports contracts are gambling, not CFTC-regulated swaps. Crypto Insight Analysis: Direction: Bearish KAL Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: NFL's stance may deter investors from Kalshi's prediction markets, causing temporary price pressure.