The NCAA this week released a statement expressing the associations strong opposition to prediction markets that offer odds on the collegiate transfer portal.
"The NCAA vehemently opposes college sports prediction markets. It is already bad enough that student-athletes face harassment and abuse for lost bets on game performance, and now Kalshi wants to offer bets on their transfer decisions and status. This is absolutely unacceptable and would place even greater pressure on student-athletes while threatening competition integrity and recruiting processes.
"Their decisions and future should not be gambled with, especially in an unregulated marketplace that does not follow any rules of legitimate sports betting operators."
So-called prediction markets, which are hosted on exchanges such as Polymarket and Kalshi, allow bets on event outcomes. The markets are not regulated and allow users to bet on everything from sports outcomes to presidential elections.
The NFL has also come out against prediction markets.
"We are particularly troubled that several sports-related futures contracts have been launched nationwide, including in jurisdictions where sports betting has not been legalized," wrote Jeff Miller, an executive vice president of the NFL, in the testimony, reported by Dustin Gouker. "These contracts fall outside the purview of state regulatory authorities and the safeguards they impose upon the industry."
Per a spokesperson, Kalshi said: "We certify markets all the time that we do not end up listing," according to ESPN. But CEO Tarek Mansour has said Kalshi's ultimate goal is to "financialize everything and create a tradable asset out of any difference in opinion."
