Robinhood and Kalshi have launched online prediction markets allowing customers to trade on outcomes of professional and college football games, including every NFL game and Power 4 college contests and a market on the Heisman Trophy. Kalshi has also offered college point spreads and totals independently. Operators assert jurisdiction under the Commodity Futures Trading Commission rather than state gambling regulators. The NCAA expressed deep concern about the lack of guardrails, warned that markets operating outside state regulation pose threats to competition integrity and student-athlete safety, and said it will work with industry leaders to seek protections and regulations.
The NCAA said Thursday it was "deeply concerned" about the lack of guardrails for the online prediction markets that are challenging betting industry norms after financial company Robinhood began allowing trades on college football. Robinhood announced Tuesday that it was launching markets on the outcomes of professional and college football games this season. The company said in a release that it will allow customers to trade on the outcomes of every NFL game and every college game involving schools from the Power 4 conferences and independents.
The NCAA believes companies offering markets on college athletics outside of state regulatory bodies "pose a threat to competition integrity and student-athlete safety," according to a statement by Tim Buckley, a senior vice president for the NCAA. "We will continue to analyze developments of this market and work with industry leaders to help ensure guardrails and regulations to protect NCAA competition, student-athletes, coaches and officials," Buckley said.
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