NCAA asks CFTC to halt sports prediction markets

The U.S. National Collegiate Athletic Association (NCAA) has asked the Commodity Futures Trading Commission (CFTC) to halt the operation of sports prediction markets, CoinDesk reported. In a letter, the NCAA argued that these prediction markets are similar to sports betting but lack the consumer protection measures found in licensed betting operations. The organization pointed out that while these markets fall under the Commodity Exchange Act, they do not adhere to state-level regulations, allowing them to bypass rules on age limits, advertising, and monitoring for game integrity. The NCAA called for a temporary suspension of sports prediction markets until a robust, properly regulated system is established, warning that the current situation poses a serious risk to athletes, consumers, and the integrity of sports.