NBA Partners With Prediction Markets, Kalshi And Polymarket
· Yahoo Sports
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Getty ImagesIn hopes to ensure what it called “significant integrity protections,” the NBA announced on Monday that it has partnered with prediction markets Kalshi and Polymarket.
The NBA added that the agreement will enforce limitations on permissible markets, such as suspicious trading and any bets by NBA league and team personnel. In theory, that will ensure that the NBA has stronger influence over the prediction markets and collaboration with the Commodity Futures Trading Commission. The CFTC oversees the prediction market industry on the federal level.
“Protecting the integrity of the game is our top priority,” Scott Kaufman-Ross, NBA Head of Media Distribution & Partnerships, said in a written statement. “As this category develops, we believe it is important to work constructively with regulators and operators to help ensure that appropriate safeguards are in place. These partnerships represent an important step in establishing a framework that creates new opportunities to engage our fans.”
The NBA and the WNBA announced two weeks ago that both leagues would also launch various public service announcements that address the risks involving betting and prediction markets. Since 2021, the NBA has embraced the financial benefits with having DraftKings and Fanduel as the league’s official betting partners both on point spread and prop bets. NBA stars LeBron James (Polymarket) and Giannis Antetokounmpo (Kalshi) also have endorsement deals with those respective prediction markets.
But these initiatives also come in the wake of gambling-related issues affecting the league.
Last year, the FBI arrested former Portland Trail Blazers coach Chauncey Billups as part of an investigation in his involvement in illegal sports betting and rigged poker games. Former NBA player and assistant coach Damon Jones pled guilty last spring on two counts of conspiracy to commit wire fraud and conceded he leaked injury information to sports bettors. Former NBA players Terry Rozier and Malik Beasley have been indicted for point shaving, though both cases are still being litigated. Meanwhile, NBA players are often exposed to fans pressuring them about their parlay bets via social media and even at games.
“Announcing our partnership with the NBA is a significant milestone,” Adam Barrick, Head of Sports Partnerships at Kalshi, said in a written statement. “The relationship we’ve built together reflects a shared mindset that prioritizes fan engagement, innovation and safety. We believe in markets that are fair, safe, and open - it’s why millions of people are coming to Kalshi to trade with nationwide consumer protections. It’s an exciting time for both NBA fans and Kalshi users.”
With this partnerhship, the NBA said that both Kalshi and Polymarket will have access to official NBA data and can use the NBA’s intellectual property, marketing rights and promotional activations across medial channels within the United States. The NBA has also expanded its sponsorship with DraftKings to include prediction markets and nationwide promotion.
“The NBA is one of the most influential sports leagues in the world, and we’re excited to work together to bring fans closer to the game,” Ari Borod, President, Sports Business Development at Polymarket, said in a written statement. “This partnership will allow our customers to engage more deeply with the game of basketball on Polymarket. We look forward to partnering with the NBA on establishing a safe, transparent prediction market ecosystem for everyone.”
This article was originally published on Forbes.com