The CFTC published a notice in March inviting the public, corporations, and leagues to comment on whether to amend or issue new regulations governing event contracts.
The agency set an April 30 deadline for public comment submissions, with some of the largest stakeholders in gaming and sports sending letters to the CFTC on prediction markets. In total, the CFTC received over 1,500 public comments regarding the platforms.
While some leagues are already in partnerships with prediction markets operators, the NBA sent a letter to the CFTC doubling down on its concerns regarding event contracts.
“There is no higher priority for the NBA than protecting the integrity of our games and preserving public confidence in our league and in our sport,” said Dan Spillane, NBA Executive Vice President and Assistant General Counsel, League Governance ..