NCAA President Expresses Concerns Over Prediction Markets

The NCAA has broken its silence over sports prediction markets. 

President Charlie Baker discussed the new industry in a recent interview with Yahoo Sports, raising concerns over the lack of regulations. He shared his belief that the CFTC's inaction at the federal level is allowing the industry to run out of control. Baker says the results could be catastrophic.

It just says this whole thing is going to get worse unless somebody does something about it.” Baker told Yahoo Sports. “And solving it at the federal level is going to be really challenging because it's still new and not fully formed. So, I mean, you're basically talking about no rules, no oversight, no nothing. And that just feels catastrophic to me, not just for us, but for everybody.”

Baker’s words echo those of state lawmakers, including in states without legal sports betting. California and Texas are among those without regulated markets of their own, but prediction markets can operate without interference. This has drawn the ire of the tribes as well, who believe the platforms are offering an illegal form of gambling.

The NCAA President also discussed the decision by FanDuel and DraftKings to leave the American Gaming Association to pursue sports prediction markets. Baker believes their decisions were partly made because the operators were concerned they couldn’t compete with unregulated rivals. If the CFTC doesn’t step up and regulate the industry, he expects more sportsbooks to follow the lead of industry leaders. 

NCAA Rips Kalshi Over New Markets

Baker lashed out against Kalshi soon after the interview with Yahoo Sports. The president ripped the industry-leading prediction market operator for self-certifying markets focusing on football and basketball players entering the transfer portal. The operator would pay out these contracts once an official statement of intent is made.

"The NCAA vehemently opposes college sports prediction markets," NCAA president Charlie Baker said in a statement to ESPN. "It is already bad enough that student-athletes face harassment and abuse for lost bets on game performance, and now Kalshi wants to offer bets on their transfer decisions and status. This is absolutely unacceptable and would place even greater pressure on student-athletes while threatening competition integrity and recruiting processes.

Kalshi responded to the criticism by confirming that self-certification of a market doesn’t mean it will be added to its prediction platform.