The National Basketball Association has reached a deal with Kalshi and Polymarket that designates the platforms as the league’s preferred prediction market exchanges, alongside an information-sharing agreement with the US Commodity Futures Trading Commission.
The NBA said Monday it would license official data to the top prediction market platforms. The agreement includes limitations on permissible markets, information-sharing obligations to identify suspicious trading, and prohibitions on trading by NBA league and team personnel.
“As this category develops, we believe it is important to work constructively with regulators and operators to help ensure that appropriate safeguards are in place,” Scott Kaufman-Ross, the NBA’s head of media distribution and partnerships, said in a news release.
The league also broadened its agreement with betting app DraftKings to include prediction markets and nationwide promotion, and plans to expand its relationship with other current official sports betting partners in the coming weeks.
Prediction markets have surged in popularity over the past two years, allowing customers to place wagers on just about anything, with trading largely fueled by sports-related contracts. The CFTC said a memorandum of understanding with the NBA is meant to bolster market integrity for basketball-linked prediction trading on regulated exchanges.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing