NBA partners with Kalshi, Polymarket as prediction markets face scrutiny

The NBA has designated Kalshi and Polymarket as its preferred prediction market exchanges. According to Bloomberg, the league also announced an information sharing agreement with the U.S. Commodity Futures Trading Commission (CFTC). Investing.com reports that the memorandum of understanding was signed by NBA Commissioner Adam Silver and CFTC Chairman Michael Selig.

The cooperative agreement with the CFTC aims to address concerns regarding market oversight and insider trading. Investing.com notes that the two entities will share information that could directly impact the integrity of professional basketball. Quartz reports that the deals prohibit league and team personnel from trading NBA contracts.

The NBA stated that the partnerships include significant integrity protections by limiting permissible markets. Scott Kaufman-Ross, the NBA head of media distribution and partnerships, said the league aims to work with regulators and operators to ensure appropriate safeguards are in place as the category develops. The Hill reports these moves come as multiple states have sued Kalshi and Polymarket in attempts to establish regulatory authority over the companies.

Brief written by urgent.news from The Hill, Quartz, Bloomberg, Investing.com — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.