Players from the NBA, NFL and MLB call for ban on ‘under’ betting

Unions that support professional NBA, NFL, MLB, NHL and MLS players are calling on the CFTC to ban prediction market platforms from allowing users to bet on a player’s poor performance or injury. Sports Business Journal Reports. in Their messageThe unions point to the need for “adequate regulations” to protect athletes and their families from “abusive and harassing behaviour”.

The unions wrote the letter in response to the CFTC Request for comment On the regulation of prediction markets, such as those run by Calci and Polymarket. In addition to calling for a ban on “under” bets, the unions also want the CFTC to ban people from betting on whether certain words or phrases are uttered during a broadcast, such as “concussion” — which it describes as “another way of betting on a negative outcome.”

The CFTC should prohibit “unauthorized use” of information related to a player’s injury or illness, performance metrics or other health data as well, sports federations write. Separately, The NBA asked the CFTC to limit it Market betting prediction for people over 21 years old. Kalshi and Polymarket currently allow users aged 18 or over to join.

As prediction markets have risen in popularity, the Commodity Futures Trading Commission (CFTC) has resisted states’ attempts to regulate platforms. Until now, the Commodity Futures Trading Commission Lawsuits filed against the state of ArizonaConnecticut, Illinois, New Yorkand wisconsinwhich accuses countries of violating the CFTC’s “regulatory authority” over prediction betting markets by attempting to impose rules on them.