NBA Partners with Kalshi and Polymarket for Prediction Markets

The National Basketball Association announced a series of agreements on Monday aimed at creating a comprehensive framework for prediction markets. The agreements include a memorandum of understanding signed with the Commodity Futures Trading Commission (CFTC).

Under the agreements, the NBA named Kalshi and Polymarket as its preferred prediction market exchanges. This step clarifies which platforms the league will use to offer game-based prediction products.

The agreement is reported to aim at regulating the legal framework and oversight of prediction markets. The memorandum of understanding with the CFTC paves the way for such products to move forward in line with the regulatory process in the United States.

The report does not include all the details of the full scope of the agreements. However, the growth of sports-related prediction markets and partnerships between sports leagues and these platforms stand out as a notable development in the industry.