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The U.S. Collegiate Athletic Association Urges CFTC to Halt College Sports Prediction Markets
BlockBeats News, January 16th — The National Collegiate Athletic Association (NCAA) has recently urged the U.S. Commodity Futures Trading Commission (CFTC) to suspend college sports-related prediction markets until more comprehensive regulatory rules are established to protect student athletes.
NCAA President Charlie Baker wrote to CFTC Chairman Michael Selig on Wednesday requesting the suspension of college sports prediction market operations until "adequate safeguards are in place." Baker pointed out that the rapid expansion and unregulated development of sports prediction markets have led to increased harassment of student athletes by bettors, negatively impacting their mental and physical well-being.
He also emphasized that while most U.S. states set the minimum age for sports betting participation at 21, prediction markets typically allow users as young as 18 to participate, which could "severely entice college and even high school students" into engaging in potentially harmful speculative behavior. Baker proposed several regulatory suggestions in his letter, including:
· Establishing stricter age limits and advertising standards
· Implementing a more comprehensive event integrity monitoring system
· Introducing anti-harassment mechanisms
· Providing risk intervention and harm mitigation resources
Despite the increasing regulatory pressure, prediction market platforms such as Kalshi and Polymarket have seen escalating trading volumes in recent months. Lawmakers and regulators in several states, including Connecticut, New York, Nevada, and New Jersey, have sought to ban or restrict sports-related prediction markets.
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