NFL calls prediction markets a form of sports gambling, urges courts to let states regulate
The National Football League has made its stance clear on prediction markets.
In an amicus brief on Thursday, the league said that the sites fall under the sports gambling umbrella and should similarly be regulated by states.
"Billions of dollars will be bet on NFL games through prediction markets each season, and any delay from the Court will result in increasing consumer harm and risk to game integrity," the NFL wrote in the brief, via ESPN .
CLICK HERE FOR MORE OUTKICK SPORTS COVERAGE The league sent a letter to prediction market operators just before the start of the season saying they objected to markets like coaching and officiating decisions, injuries, and other markets that could be swayed by insider info.
The league has yet to partner with predict markets but does have deals with official online sportsbooks.
"The [Commodity Futures Trading] Commission's failure even to reference such objectionable contracts that the NFL identified months ago -- contracts that have been and continue to be listed as contracts by operators like Kalshi -- is deeply concerning and creates significant risks for the NFL's players, coaches, and officials and market participants," the league said.
The CFTC, however, said that it has been in touch with the league as prediction markets have risen, but the league has not entered an agreement with them to work together.
"Since day 1, the CFTC has engaged with the NFL regarding the agency’s rulemaking agenda and policy priorities.
It’s unfortunate the NFL declined to sign an MOU with the CFTC which would’ve provided the league the ability to better discuss, cooperate, and exchange information with us to promote the integrity and resilience of prediction markets," Brooke Nethercott, public affairs director for the CFTC, told Fox News Digital.
SIGN UP FOR THE DAILY OUTKICK NEWSLETTER A CFTC source said that "just weeks ago, several senior NFL staff members notified senior CFTC staff that they were on the verge of commercial partnerships with several prediction market operators." Kalshi also took a shot at the NFL for not being "willing to share data and collaborate to protect game integrity." "Kalshi’s top priority is the integrity of its markets.
That priority is reflected in the fact that other major sports league and integrity partner in the United States is partnering with Kalshi—including the MLB, NHL, USTA and others," Kalshi told Fox News Digital.
"Contrary to the NFL’s statements, the CFTC is actively policing sports-related markets, which are now listed on nearly every US commodities exchange.
The CFTC’s ongoing rulemaking addresses many of the NFL’s supposed concerns.
5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on www.foxnews.com — the content belongs to Fox News.