Home NCAA urges CFTC to suspend college sport prediction markets

NCAA urges CFTC to suspend college sport prediction markets

The President, Charlie Baker, of the National Collegiate Athletic Association (NCAA) is calling for the Commodity Futures Trading Commission (CFTC) to halt all college sport offerings in prediction markets, until ‘appropriate regulations’ can be put in place.

The CFTC is the regulatory body that presides over prediction markets, with these being a controversial addition to the world of gambling.

“Just as we need Congress to stabilize eligibility, we need federal regulators to stabilize these markets,” Charlie Baker said in a press release. “The answer cannot be the status quo. We need one set of fair, transparent standards.”

NCAA asks for a robust system of safeguards around prediction markets

To further hone in on their point, the NCAA has sent a letter to the regulatory body, as it asks for a robust system of safeguards to be put in place. Within the letter, the organization has also detailed its willingness to work with them to develop the necessary guardrails to protect student athletes and college sports.

According to the association, the critical safeguards they have requested include age and advertising restrictions, enhanced integrity monitoring, prop market prevention, anti-harassment measures and harm reduction resources.

In November, a new study was unveiled which revealed high levels of sports betting abuse towards student athletes. The organization, which includes more than 500,000 college athletes across three divisions, said 36% of Division I men’s basketball students reported experiencing social media abuse related to sports betting within the last year.

Within the news release announcing their calls for pause on offerings related to college sports, the NCAA also explained why this is of interest to them: “Protecting competition integrity and student-athlete well-being are of vital importance to the NCAA.

“The Association has led an unparalleled response to the rapidly evolving sports betting landscape through its use of a layered integrity monitoring program, in-person and online education, state advocacy focused on removing prop bets, anti-harassment monitoring, social change campaigns and other initiatives.

“The NCAA will continue to advocate for reforms that enhance protections for all who participate in and consume college sports.”

Featured Image: Via NCAA statement

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Sophie Atkinson
Freelance Journalist

Sophie Atkinson is a UK-based journalist and content writer, as well as a founder of a content agency which focuses on storytelling through social media marketing. She kicked off her career with a Print Futures Award which champions young talent working in print, paper and publishing. Heading straight into a regional newsroom, after graduating with a BA (Hons) degree in Journalism, Sophie started by working for Reach PLC. Now, with five years experience in journalism and many more in content marketing, Sophie works as a freelance writer and marketer. Her areas of specialty span a wide range, including technology, business,…