NCAA President Again Asks CFTC for Tighter Regulations on Prediction Markets
Charlie Baker urged the CFTC to halt player prop markets and adopt more safeguards for other markets to protect athletes and competition integrity.
Want to get more Covers content? Add us as a preferred source on your Google account here . NCAA president Charlie Baker is making another attempt to have federally regulated player prop markets banned from prediction platforms.
Key Takeaways The CFTC has not implemented major regulations since Baker last wrote in January. Baker called for a number of changes, including market elimination, cooperation, customer restrictions, and more. The NCAA has spent years fighting player prop betting markets at sportsbooks.
Baker sent his four-page letter to Commodity Futures Trading Commission chairman Michael S. Selig, on Tuesday. It was written after no changes were made to the federal regulation of sports event contracts at prediction platforms since Baker sent his last letter Jan.
14. The correspondence contained 12 “respectfully (submitted)” bullet points with recommended policies and measures to protect college sports, student-athletes, and institutions. It noted the suggestions are based on the NCAA’s experience dealing with sports betting since it was federally legalized in 2018, and its “comprehensive sports betting harm reduction program,” which it claimed significantly reduced the negative effects of wagering in college sports.