NFL wants stricter regulation of sports prediction markets
The NFL has provided recommendations to the Commodity Futures Trading Commission regarding the regulation of sports-related prediction markets, as reported by CNBC on Friday, referencing an internal letter. Brendon Plack, the NFL’s senior vice president for government affairs and public policy, addressed the letter to Chairman Michael Selig on the same day.
The commission is currently working on establishing rules for these markets. One of the NFL’s key points is to eliminate contracts that they believe can be easily manipulated by individuals, such as bets on whether a kicker will miss a field goal or if a quarterback’s first pass will be incomplete.
They also suggest limiting contracts related to events that are predictable, like the first play of the game, and those involving “inherently objectionable” matters, such as injuries. Additionally, Plack expressed a desire to ban “mentions” contracts, which allow people to wager on the likelihood of certain phrases being spoken by broadcasters during games.
The NFL is also advocating for the minimum age for participants in sports-related prediction markets to be raised to 21, aligning this requirement with standard age limits for online sports betting. Currently, users as young as 18 can trade on these platforms.