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NFL Sends Demand Letter
The NFL sent a demand letter to Kalshi, Polymarket, Trimtabs and PredictIt.
“The NFL has reportedly sent letters to Kalshi, Polymarket and other prediction market platforms in an effort to block trades on football events that can be easily manipulated”
The letter states they must remove sixteen categories of markets that the league deems "objectionable bets."
This reflects the league's growing engagement amid $1.6 billion in Super Bowl-related volume.
Sixteen Objectionable Categories
The league outlined sixteen specific categories of contracts.
These include broadcast mention markets, player signings, coach firings, and more.
The NFL also objected to play-level prop bets controlled by a single player.
CFTC to Defer to Leagues
The demand letter follows weeks of engagement between the NFL and the CFTC.
“The CFTC considers the league’s concerns and may prohibit the contract from being listed”
The CFTC will defer to leagues on what markets are permissible.
CFTC Chair Selig told ESPN they will afford a lot of deference to the leagues.
Kalshi and Polymarket Respond
Kalshi announced plans to remove player injury markets.
Polymarket said it reacts quickly when problems are encountered.
They will delay opening NFL Draft contracts until after the NFL asked for a stop.