NBA Signs Prediction Markets MOU With CFTC Amid Kalshi, Polymarket Partnerships
Highlights
- The NBA has signed an MOU with the CFTC to share information and guard against insider trading on prediction markets.
- At the same time, the basketball league has partnered with Kalshi and Polymarket.
- These agreements form part of the NBA's comprehensive prediction markets framework.
The National Basketball Association (NBA) has signed an MOU with the Commodity Futures Trading Commission (CFTC) to prevent insider trading in league-related prediction markets. This comes as the league partners with prediction market platforms Kalshi and Polymarket as its designated prediction market exchanges.
NBA Signs MOU With CFTC On Prediction Markets
According to a league release, the NBA has entered into an MOU with the CFTC to focus on information sharing related to NBA prediction markets. “The agreement reflects a shared commitment to ensuring that NBA-related prediction markets are subject to appropriate regulatory oversight and integrity protections,” the release read.
The CFTC also confirmed the agreement in its own release, noting that it aims to protect the integrity of professional basketball in prediction markets. “The NBA joins the MLB and NHL in taking a responsible step toward protecting sports integrity and market participants from abuses in prediction markets like insider trading and fraud,” the CFTC Chair Michael Selig said.
This move comes amid increased scrutiny of prediction markets such as Kalshi and Polymarket from state regulators. As CoinGape reported last week, Utah sued Kalshi over alleged illegal online gambling and has sought to block the prediction market platform in the state.
State regulators argue that these prediction market platforms operate like sports betting platforms through the sports-event contracts they offer. However, the CFTC continues to defend its jurisdiction over these platforms, arguing that these contracts are swaps, not bets.
Partnership With Kalshi and Polymarket
The NBA has also partnered with Kalshi and Polymarket as the league’s preferred prediction market exchanges. The league noted that the agreement with the top prediction market platforms forms part of its comprehensive integrity framework for related prediction markets.
The agreement also includes “limitations on permissible markets, affirmative prohibitions on trading NBA event contracts by league and team personnel, and information-sharing obligations relating to investigations and suspicious trading,” the release read.
Kalshi and Polymarket will also receive rights to use NBA IP, marketing rights, and promotional materials on U.S. media channels. Additionally, these platforms will receive league data to operate and settle authorized league-related markets.
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