NBA Commissioner Adam Silver has called for access to prediction market data to help identify potential insider trading and protect the league’s integrity, according to CNBC.
Speaking to the publication, Silver said prediction markets raise many of the same integrity concerns as traditional sports betting. He added that the NBA wants access to relevant data and greater control over the market.
Silver described contracts tied to events such as whether a coach will be fired as “odd behavior”.
His comments come after the NFL filed an amicus brief with the Supreme Court on Thursday in support of New Jersey regulators, arguing that sports contracts on prediction markets should be classified as gambling rather than financial swaps.
The NFL has also called for a minimum trading age of 21, in line with the age requirement for sports betting in several states.
Meanwhile, the Commodity Futures Trading Commission (CFTC) issued an Interim Final Rule on October 9, declaring that casino-style gambling products such as poker, blackjack and roulette are "excluded" from the definition of a swap.
“Casino-style gambling products are not derivatives,” CFTC Chairman Michael Selig said.
“Just as the CFTC has done with respect to other products historically regulated by the states, the Commission today provides clarity regarding the limits of its regulatory remit by codifying the exclusion of casino-style gambling products from the ‘swap’ definition.”
On October 2, the CFTC secured its first legal victory over state regulators in nearly six months after an Illinois federal district court granted preliminary injunction motions filed by Kalshi, Coinbase and the Commission.
In May, the NFL called for prediction markets to ban contracts which were more vulnerable to manipulation
