 |
|
 |
||
|
 |
 |
|
|
|
|
|||
Macon MFA 1805 A N Missouri St Macon, MO 63552 660-385-5753 Shelbina MFA 215 W Maple St Shelbina, MO 63468 573-588-4140 CLICK - MFA CONNECT |
|
Printable Page
01/14 19:46 CST NCAA urges federal regulators to suspend prediction markets
that look a lot like gambling
NCAA urges federal regulators to suspend prediction markets that look a lot
like gambling
OXON HILL, Md. (AP) --- The NCAA sent a letter Wednesday asking federal
regulators to suspend prediction markets, which are trading sites that allow
users to essentially bet on outcomes of games, for college sports.
NCAA President Charlie Baker sent the letter to the chair of the Commodity
Futures Trading Commission, urging him to put a halt to the offerings "until a
more robust system with appropriate safeguards is in place."
During his speech to the NCAA's annual convention, Baker referenced one site
that had been planning to start taking bets on where players might transfer
"until we called them out and they backed down."
The platforms are legal because they're classified as financial trading
platforms, not gambling websites.
The NCAA has been wrestling with gambling since a Supreme Court ruling lifted
the nationwide ban on sports betting in 2018. In November, the NCAA passed,
then quickly rescinded, a rule that would have allowed staff and athletes to
bet on professional games.
The about-face came in the aftermath of the arrests of an NBA player and coach
in a takedown of two sprawling gambling operations.
Baker's letter listed a number of safeguards missing from prediction markets,
including bans on prop betting --- a form of wagering in which gamblers can bet
on individual outcomes in games.
In recent months, the NCAA has ruled more than a dozen basketball players
ineligible for manipulating their performance to influence results involving
both point spreads and prop bets.
___
AP college sports: https://apnews.com/hub/college-sports
