CONNECT WITH US
Tech

Tech

NBA partners with Kalshi and Polymarket as official prediction markets

Fast Company logo

Published on

Add as a preferred source on Google
NBA partners with Kalshi and Polymarket as official prediction markets

The NBA has struck deals that will make Kalshi and Polymarket the league’s preferred prediction markets, along with an agreement with a federal agency tasked with regulating those exchanges.

Those agreements, announced Monday, are intended to provide “significant integrity protections for NBA-related markets,” 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.

The prediction markets will have “information-sharing obligations relating to investigations and suspicious trading,” 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.

“If you’re going to be betting on our games or trading on our games or playing fantasy around our games, it’s better for it to be regulated than unregulated,” said Scott Kaufman-Ross, the NBA’s head of media distribution and partnerships. “And clearly, our fans have interest in this activity. So, we’re in a better position to protect the integrity of our games in a regulated market where there’s transparency, where things can be monitored and we have insight into what’s happening.”

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 — at least on some level — are essentially available in all 50 states.

More than a dozen states are involved in litigation over prediction markets and earlier this month the NFL asked the Supreme Court to rule on the regulation of such markets.


Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.