OverviewThe NCAA has asked the Commodity Futures Trading Commission (CFTC) to suspend prediction markets tied to college sports. While sportsbooks are largely regulated at the state level, prediction market operators contend that they are distinguishable because, unlike sportsbooks, prediction market users "trade on the yes/no outcome of events . 2 David Purdum, NCAA asks regulators to suspend collegiate prediction markets, ESPN (Jan. 14, 2026) https://www.espn.com/college-sports/story/_/id/47614688/ncaa-asks-regulators-suspend-collegiate-prediction-markets (last visited Jan. 27, 2026). Prediction market operators are offering collegiate sport moneyline, total and spread markets that mirror markets offered by sports wagering operators. 5 David Purdum, Prediction market Kalshi self-certifies transfer portal trading, ESPN (Dec. 17, 2025) https://www.espn.com/college-football/story/_/id/47341610/prediction-market-kalshi-intends-offer-trading-portal (last visited Jan. 27, 2026)6 Letter at 1.

Source: Wall Street Journal January 28, 2026 21:39 UTC