NCAA Urges CFTC to Halt College Sports Prediction Markets

According to PANews, the National Collegiate Athletic Association (NCAA) has requested the Commodity Futures Trading Commission (CFTC) to suspend trading in prediction markets related to college sports. The NCAA argues that these markets function similarly to sports betting but bypass the protective measures required for licensed sports betting entities, such as age restrictions, advertising limitations, and integrity monitoring. Currently, contracts related to college sports on Polymarket have reached a trading volume of approximately $320 million. The association is concerned that these markets, which allow participation from users aged 18 and above, could attract college students and even athletes themselves. Prediction contracts targeting individual athletes could lead to coercion and harassment, posing a "catastrophic" risk to student-athletes and the entire college sports ecosystem.