US college sports regulator calls for halt to prediction markets
The NCAA wants the CFTC to tighten rules on college sport prediction markets, including age and advertising restrictions and anti-harassment measures.
The National Collegiate Athletic Association (NCAA) has called on the Commodity Futures Trading Commission to suspend college sports prediction markets until rules are implemented to protect student athletes.
NCAA president Charlie Baker asked CFTC chair Michael Selig in a letter on Wednesday to “suspend collegiate sport prediction markets until a more robust system with appropriate safeguards is in place.”
Baker said that the “growth and haphazard nature” of sports prediction markets has contributed to more harassment directed at student athletes by bettors, negatively affecting their well-being.