Multiple amicus briefs filed last week urge the Supreme Court to resolve a circuit court split by ruling that sports-related prediction markets constitute gambling products subject to state regulation rather than federal CFTC oversight. Two appellate courts have previously classified these platforms as gambling, while the Third Circuit ruled 2-1 that the CFTC holds jurisdiction over sports-linked swaps and prediction markets. Former Senator Chris Dodd argued in a filing that the Dodd-Frank Act was never intended to grant the CFTC authority to supersede state gambling regulations. The brief contends that sports parlays do not facilitate hedging or price discovery and lack the financial or economic consequences required to qualify as swaps under the Commodity Exchange Act, directly challenging the Third Circuit's distinction between derivatives and sports wagers.