NCAA asks regulators to suspend collegiate prediction markets
ESPN • • business
Key Points:
- The NCAA has urged the Commodity Futures Trading Commission (CFTC) to halt prediction markets offering trades on college sports until stronger safeguards are implemented to protect student-athletes and maintain competition integrity.
- NCAA president Charlie Baker highlighted the need for age and advertising restrictions, enhanced integrity monitoring, involvement of governing bodies, and harm reduction measures in prediction markets.
- While some prediction markets like Kalshi use monitoring firms, Baker emphasized that current oversight is insufficient, citing the lack of geolocation tracking and mandatory reporting of integrity concerns as key gaps.
- Prediction markets, which differ from traditional sportsbooks by allowing users to trade contracts rather than bet against a house, are legal in all 50 states for users 18 and older, unlike sportsbooks which are limited
