Add as a preferred source on GoogleCFTC and NBA Sign Data-Sharing Pact for Basketball Prediction Markets
The MOU calls for routine communication on integrity issues and aims to support fair, transparent markets tied to the sport.
The Commodity Futures Trading Commission and the National Basketball Association signed a memorandum of understanding Monday to coordinate on professional basketball prediction markets, setting regular information exchange and integrity discussions at the center of their cooperation.
The MOU calls for the two organizations to communicate routinely and address issues affecting the sport’s integrity. The stated goal is to support markets tied to professional basketball that are fair and transparent.
CFTC Chairman Michael S. Selig said the NBA joins MLB and NHL in working with the regulator to protect sports integrity and market participants. He identified insider trading and fraud as examples of abuses the effort aims to guard against.
Selig described the agreement as part of the CFTC’s effort to expand data sharing between the agency and professional sports leagues. He thanked NBA Commissioner Adam Silver for working with the CFTC on the MOU and said the arrangement puts the integrity of basketball and U.S. financial markets first.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.