CFTC and NBA Partner on Prediction Markets
The US CFTC and NBA signed an agreement to share information on prediction markets to protect the integrity of professional basketball. The move follows similar deals by other major sports leagues amid growing regulatory scrutiny.
The Commodity Futures Trading Commission and the National Basketball Association formed an information-sharing agreement on Monday afternoon to oversee prediction markets. The memorandum follows recent sports betting scandals that triggered federal probes and arrests across the United States. Regulators and sports executives are moving to establish strict integrity protections as financial trading in sports outcomes expands.
