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US CFTC, NBA vow to protect basketball integrity in prediction markets
- On Monday, the National Basketball Association announced partnerships with prediction markets Kalshi and Polymarket, alongside a cooperative agreement with the Commodity Futures Trading Commission .
- NBA executive vice president Scott Kaufman-Ross said the league delayed commercial partnerships until establishing the right regulatory framework. "We were really just waiting for that moment where we felt like we had all of the proper pieces in place," Kaufman-Ross said.
- These multi-year agreements designate both firms as the "Preferred Prediction Market Exchange of the NBA" and impose restrictions on wagers including the outcome of the opening tip and "under" bets involving limited-minutes players.
- More than a dozen states are involved in litigation over prediction markets, with the Supreme Court expected to decide in the coming months whether to take up cases questioning the legality of such trading.
- The NBA also expanded its agreement with DraftKings to include prediction market offerings, joining the National Hockey League and Major League Baseball in establishing such partnerships.
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NBA signs prediction market deals with Kalshi and Polymarket
The league has also signed an information-sharing agreement with the CFTC and extended its DraftKings deal to cover prediction markets across the US. The National Basketball Association (NBA) has named Kalshi and Polymarket as its ‘Preferred Prediction Market Exchanges’. It has also become the third league, after the National Hockey League (NHL) and (MLB), to […]
The NBA announced a business partnership with betting markets Kalshi and Polymarket on Monday, which the basketball league says will help protect against illegal activity in the hugely popular online betting markets.
·Tallinn, Estonia
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Coverage Details
Total News Sources97
Leaning Left15Leaning Right11Center31Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 26%
C 55%
R 19%
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