Today, NCAA President Charlie Baker called on the Commodity Futures Trading Commission, the regulatory body that presides over prediction markets, to pause all college sport offerings in prediction markets until the agency implements appropriate regulations.
"Just as we need Congress to stabilize eligibility, we need federal regulators to stabilize these markets," Baker said. "The answer cannot be the status quo. We need one set of fair, transparent standards."Â
The NCAA sent a letter to the CFTC calling for a robust system of safeguards and detailed its willingness to work with the regulatory body to assist with developing the necessary guardrails to protect student-athletes and college sports. The critical safeguards requested include age and advertising restrictions, enhanced integrity monitoring, prop market prevention, anti-harassment measures and harm reduction resources.
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.Â
Read the full letter here.Â
