Kalshi: There are no plans to release a contract predicting college athlete transfers at this time.

Prediction market platform Kalshi stated that even though the company has sought regulatory approval, it currently has no plans to allow users to bet on whether top college athletes will enter the transfer portal. A Kalshi spokesperson told The Block, "We have no plans to launch these contracts immediately." He noted that Kalshi frequently certifies its markets (i.e., seeks permission to potentially launch them) but ultimately does not make them available to users. The spokesperson cited as an example several contracts that Kalshi has certified but not launched, including one that allowed users to bet on whether an animal would become extinct. The news that Kalshi might launch a transfer portal for college athletes quickly drew criticism from the National Collegiate Athletic Association (NCAA). NCAA President Charlie Baker posted on the X platform, stating, "The NCAA strongly opposes the college sports betting market." Baker added, "Student-athletes already face harassment and abuse for poor performance; now Kalshi wants to offer betting on their transfer decisions and status. This is absolutely unacceptable. It will put even more pressure on student-athletes and threaten the integrity of the game and the recruitment process." When a college athlete enters the transfer portal, they formally indicate their interest in transferring to another school, opening doors for other programs to contact them. According to ESPN, Kalshi stated in a filing with the Commodity Futures Trading Commission (CFTC) that transfer portal contracts would be available starting Wednesday. Baker stated on Wednesday that college athletes' "decision and future should not be gambled on, especially in an unregulated market that doesn't follow the rules of any legitimate sports betting operator." Kalshi refuted this. A spokesperson told The Block, “It’s inaccurate to say we’re unregulated. We are a federally regulated exchange, subject to the Commodity Exchange Act and its hundreds of regulations.” According to Kalshi’s website, the company is regulated as a Designated Contract Market, allowing trading in futures, swaps, and commodity options. Kalshi and its main competitor, Polymarket, both list event contracts, allowing users to bet on the outcomes of college games, particularly football and basketball. (The Block)