MIAMI \u2014 The NBA has struck deals that will make Kalshi and Polymarket the league\u2019s preferred prediction markets, along with an agreement with a federal agency tasked with regulating those exchanges.<\/p>\n
Those agreements, announced Monday, are intended to provide \u201csignificant integrity protections for NBA-related markets,\u201d including limitations on what can be offered on those exchanges, transparency when it comes to suspicious patterns by site users, and banning league and team personnel from making trades related to league events.<\/p>\n
The prediction markets will have \u201cinformation-sharing obligations relating to investigations and suspicious trading,\u201d the NBA said. The NBA has had similar guardrails in place with its sportsbook partners for some time and has cited instances where that system has flagged irregularities in betting patterns.<\/p>\n
\u201cIf you\u2019re going to be betting on our games or trading on our games or playing fantasy around our games, it\u2019s better for it to be regulated than unregulated,\u201d said Scott Kaufman-Ross, the NBA\u2019s head of media distribution and partnerships. \u201cAnd clearly, our fans have interest in this activity. So, we\u2019re in a better position to protect the integrity of our games in a regulated market where there\u2019s transparency, where things can be monitored and we have insight into what\u2019s happening.\u201d<\/p>\n
The NBA is also expanding its agreements with current official sports betting partners, such as DraftKings, to include their prediction-market offerings. Not all states offer legalized sports betting but predictions markets \u2014 at least on some level \u2014 are essentially available in all 50 states.<\/p>\n
More than a dozen states are involved in\u00a0litigation over prediction markets\u00a0and earlier this month the NFL asked the Supreme Court to rule on the regulation of such markets. The U.S. Commodity Futures Trading Commission contends that it has exclusive jurisdiction on oversight, though some states believe it should fall under their purview.<\/p>\n
Earlier this month, the NBA told sportsbooks\u00a0they will not be permitted to offer certain types of wagering this season, including but not limited to which players record the first stat of a game, the outcome of the opening tip and taking the \u201cunder\u201d involving players not expected to play more than a few minutes. The deals announced on Monday are expected to have similar restraints.<\/p>\n
\u201cA big part of this is a limitation on the types of markets that can be offered,\u201d Kaufman-Ross said. \u201cWe will have the right to approve the types of markets that are available on our games, which is a very important component for us. And we\u2019ve had very constructive dialogues with the companies as part of that.\u201d<\/p>\n
The NBA\u2019s memorandum of understanding with the CFTC \u201creflects a shared commitment to ensuring that NBA-related prediction markets are subject to appropriate regulatory oversight and integrity protections,\u201d the league said.<\/p>\n
Kalshi and Polymarket, as part of their partnerships with the NBA, will now be able to describe themselves as the \u201cPreferred Prediction Market Exchange of the NBA,\u201d plus have access to league intellectual property such as logos, be able to get NBA statistical data from league partner Sportradar \u201cto operate and settle authorized NBA-related markets,\u201d and other marketing activations.<\/p>\n
The terms of the NBA\u2019s agreements with Kalshi and Polymarket were not disclosed, other than the league confirming that they are for multiple years. There are NBA stars with business relationships with those markets; Miami\u2019s Giannis Antetokounmpo has promoted Kalshi and Philadelphia\u2019s LeBron James recently signed a deal with Polymarket. At least one other NBA star, San Antonio\u2019s Victor Wembanyama, recently said he will never endorse such sites.<\/p>\n","protected":false},"excerpt":{"rendered":"MIAMI \u2014 The NBA has struck deals that will make Kalshi and Polymarket the league\u2019s preferred prediction markets,…\n","protected":false},"author":2,"featured_media":947211,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[434],"tags":[49,48,459,82],"class_list":["post-947210","post","type-post","status-publish","format-standard","has-post-thumbnail","category-nba","tag-ca","tag-canada","tag-nba","tag-sports"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/947210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=947210"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/947210\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/947211"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=947210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=947210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=947210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}