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Just eight years after the state of New Jersey successfully petitioned the US Supreme Court to repeal the Professional and Amateur Sports Protection Act, which opened the floodgates of sports betting expansion across the country, the Garden State has again petitioned the high court, this time to defend its sports betting jurisdiction against the rise of prediction markets and sports event contracts.
On Wednesday, New Jersey Attorney General Jennifer Davenport announced that her office had filed a petition for writ of certiorari following an appeals court verdict from earlier this year that went in favour of prediction markets. That 2-1 verdict from the Third Circuit Court of Appeals was handed down in April, and New Jersey had until Thursday to petition the high court.
The petition poses the question of whether the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was enacted in 2010 in the aftermath of the Great Recession, “preempted states from regulating sports bets that occur within their jurisdictions if those bets are offered on markets registered with the Commodity Futures Trading Commission”. Prediction markets have argued that their event contracts are financial derivatives regulated by the CFTC whereas many states contend that they are simply sports bets by another name.
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George Papanier has taken on Mircheva’s role as CFO on an interim basis. Papanier will continue in his current roles as Bally’s president and a member of its board of directors.
Papanier has over 40 years of experience in the gaming industry, previously serving as CEO between February 2011 and October 2021 having first joined the company as COO in 2004.
Bally’s CEO Robeson Reeves thanked Mircheva for her contribution and expressed confidence in Papanier’s ability to ensure continuity during the transition.
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“ClubGRANTS is what the clubs rely upon to push back against any reform. The fact is they’re not generous, they’re a rort.” A “rort” is an antipodean term denoting a trick, scam or fraudulent practice.
Faehrmann also hit back at the NSW’s latest gaming machine data that highlighted a record loss of $2.38 billion by NSW residents on pokies during Q2 of 2026.
The MP blamed the Minns Labor government’s reforms for the losses, claiming: “The gambling industry understands exactly what this government’s approach means and they love it: more reviews, more delays and more record losses.
