Players from the NBA, NFL, and MLB want to ban ‘down’ betting

The associations that sponsor NBA, NFL, MLB, NHL, and MLS players have asked the Commodity Futures Trading Commission (CFTC) to ban futures markets from allowing users to bet on player failures or injuries. Sports Business Journal reports. In their letterthese organizations describe the need for “appropriate guidelines” to protect athletes and their families from “abusive and abusive behavior.”

The agencies wrote this letter in response to the CFTC ask for feedback for managing prediction markets, such as those operated by Kalshi and Polymarket. In addition to calling for a ban on “down” betting, the unions also want the CFTC to ban people from betting on certain words or phrases used on the radio, such as “concussion” – which they describe as “an alternative to betting on negative outcomes.”

Sports organizations have written that the CFTC should prohibit the “unlawful use” of information related to player injuries, illnesses, performance measurements, or health information. Personally, a The NBA asked the CFTC’s limits market predictions for people over the age of 21. Kalshi and Polymarket currently allow users 18 years of age or older to join.

As the prediction markets rise in popularity, the CFTC has fought efforts by states to regulate the platforms. Until recently, the CFTC has filed lawsuits in ArizonaConnecticut, Illinois, new Yorkand Wisconsinwhich accuse states of violating the CFTC’s “jurisdiction” over betting prediction markets by trying to impose regulations on them.