NCAA President urges CFTC to tighten rules on college sports prediction markets

Techub News reports that the National Collegiate Athletic Association (NCAA) President Charlie Baker has sent a letter to the Chair of the Commodity Futures Trading Commission, Michael Selig, requesting a “pause on college sports prediction markets until a more comprehensive system with appropriate safeguards is established.”

Baker pointed out that the “rapid expansion and chaotic nature” of prediction markets have led to a surge in harassment of student-athletes by gamblers, severely damaging their physical and mental health. He added that most states restrict sports betting to individuals over 21, while prediction markets allow 18-year-olds to participate, which could “greatly entice college students and even high school students to engage in these markets in harmful ways.” Baker called for the implementation of age restrictions and advertising controls, the establishment of a more robust integrity monitoring system, the development of anti-harassment measures, and the provision of harm mitigation resources.