CFTC and NBA sign MOU to police sports prediction markets
- —MOU signed by CFTC chair Michael Selig and NBA commissioner Adam Silver
- —Parties will share data on threats to the integrity of games
- —More than 30 people were arrested last year in an illegal betting probe
- —States are suing the CFTC, arguing prediction markets are gambling
Why it matters: The deal strengthens prediction markets' standing as financial products amid a legal fight between states and the CFTC.
Source: Bloomingbit