NBA expands betting portfolio with new prediction market partnerships
The NBA has signed agreements with Kalshi and Polymarket and expanded its DraftKings deal to include prediction markets, amid ongoing scrutiny over gambling-related issues.
The NBA has announced new partnerships with prediction market firms Kalshi and Polymarket. In addition to these deals, the league is expanding its existing relationship with DraftKings to incorporate prediction markets and has indicated that further partnerships are expected in the near future.
To manage the oversight of these new commercial relationships, the league has entered into a memorandum of understanding with the U.S. Commodity Futures Trading Commission (CFTC). This framework aims to establish standards for how prediction market activities are handled within the NBA ecosystem.
The expansion comes as the league continues to face public scrutiny following high-profile gambling scandals, most notably the case of Jontay Porter, who recently pleaded guilty to conspiracy charges related to sports betting.
This move marks a continued push into complex financial markets for the NBA. Previous ventures, such as the NBA Top Shot NFT marketplace, have seen significant declines in activity, with recent sales data indicating a drop of over 99 percent from the platform's early 2021 peak.