From the HERE City National Desk
NEW YORK — The NBA is formally stepping into the prediction market business, announcing Monday a cooperation deal with the Commodity Futures Trading Commission alongside commercial partnerships with Kalshi and Polymarket.
Under the memorandum of understanding, the league and the federal regulator will cooperate and exchange information tied to markets on NBA games. The stated aim is to make sure those markets face real oversight and integrity safeguards.
Those contracts limit which kinds of NBA markets can be offered, bar league and team employees from trading on NBA event contracts and require the exchanges to share information on suspicious trading and assist with investigations. In return, both platforms gain the right to use NBA marks and marketing across the United States and will receive official league data to run and settle markets.
Basketball follows Major League Baseball and the NHL, which reached similar arrangements with the regulator. The NFL has gone the other way, siding with states that argue their gambling laws should control this kind of betting and urging the Supreme Court to settle the fight. Federal courts have split on the question, with two of three major rulings going the states’ way.
The league framed the move as a way to protect the game while reaching fans in a fast-growing category. Commission Chairman Mike Selig praised the agreement as a step against insider trading and fraud in these markets.
Section: More Washington DC sports news
Filed under: Washington DC Sports News
