● Covered by 1 source · 1 reportLow impact1 negative
NBA expands gambling partnerships despite ongoing scandals and regulatory scrutiny
Key points
- NBA partnered with Kalshi, Polymarket, and DraftKings for prediction markets.
- New integrity framework and CFTC understanding established.
- Expansion follows recent gambling scandals involving NBA personnel.
- Regulators are investigating prediction markets and gambling platforms.
NBA Expands Prediction Market Partnerships
The NBA announced new "preferred" prediction market deals with Kalshi and Polymarket. It also expanded its existing DraftKings deal to include prediction markets. Further expansions with other partners are expected soon. These agreements allow prediction markets to use official league data and intellectual property.
New Integrity Framework and Regulatory Engagement
Alongside the new partnerships, the NBA established an integrity framework for the Kalshi and Polymarket deals. It also signed a memorandum of understanding with the US CFTC to manage these relationships. The framework includes limitations on "permissible markets" and mandates information-sharing on suspicious trades and investigations.
Context of Recent Gambling Scandals
This expansion of gambling partnerships comes as the NBA faces multiple gambling-related scandals. Jontay Porter pleaded guilty to conspiracy in a gambling and manipulation scheme in 2024. Malik Beasley is reportedly negotiating a plea deal for similar charges. Former player Terry Rozier and coach Chauncey Billups are under indictment for allegedly rigging prop bets and participating in rigged poker games, respectively.
Regulatory Scrutiny and Concerns
Prediction markets have previously been associated with insider trading activity. New York Attorney General Letitia James is suing Kalshi and other platforms. Senators are also investigating reports that DraftKings and similar companies use AI to target gamblers likely to lose, while restricting winning bettors.
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Reporting from
The NBA announced new prediction market partnerships with Kalshi, Polymarket, and DraftKings, alongside an integrity framework and a memorandum of understanding with the CFTC. This expansion occurs amidst multiple gambling-related scandals involving current and former players and coaches, and regulatory concerns regarding prediction markets and targeted gambling practices.