NBA joins pro sports leagues on CFTC prediction markets bandwagon while NFL balks
Source: CoinDesk ·
From the source
The U.S. derivatives regulator, which has championed the arrival of prediction market firms such as Kalshi, has been gathering allied sports leagues. The National Basketball Association has secured a prediction markets agreement with the U.S. derivatives regulator while also penning a partnership with leading firms Kalshi and Polymarket, formally linking professional basketball into the online sports betting movement while another major organization, the National Football League, has rejected such an arrangement. The NBA, like Major League Baseball and the National Hockey League before it, established a data-sharing memorandum of understanding with the Commodity Futures Trading Commission that oversees federal regulation of exchanges that deal with event contracts — the simple yes-or-no trades behind most sports betting. The NBA's arrangement announced Monday is said to come with constraints meant to maintain the integrity of such wagering. At the same time, like other leagues, the…