BlockBeats news: On January 16, the National Collegiate Athletic Association (NCAA) recently called on the U.S. Commodity Futures Trading Commission (CFTC) to suspend college sports-related prediction markets until more comprehensive regulatory rules that protect student-athletes can be established.
On Wednesday, NCAA President Charlie Baker wrote a letter to CFTC Chair Michael Selig, requesting the suspension of college sports prediction markets until "adequate safeguards are in place." Baker noted that the rapid expansion and unregulated development of sports prediction markets have led to an increase in harassment of student-athletes by bettors, negatively affecting their mental and physical well-being.
He also emphasized that the minimum age for sports betting is set at 21 in most U.S. states, while prediction markets often allow participation by users as young as 18, which could "strongly tempt college students and even high school students" to engage in potentially harmful speculative activities. In his letter, Baker proposed several regulatory recommendations, including:
· Implement stricter age restrictions and advertising regulations
· Establish a more comprehensive competition integrity monitoring system
· Introduce anti-harassment mechanisms
· Provide resources for risk intervention and harm mitigation
Despite rising regulatory pressure, prediction market platforms such as Kalshi and Polymarket have recently experienced a surge in trading volume. Legislators and regulators in multiple states—including Connecticut, New York, Nevada, and New Jersey—have attempted to ban or restrict sports-related prediction markets.