CFTC and NHL sign memorandum of understanding on prediction markets
They say they will share information to protect the integrity of hockey and related event contracts.
US.- The Commodity Futures Trading Commission (CFTC) and the National Hockey League (NHL) have signed a Memorandum of Understanding (MOU). They say they will share information and coordinate to protect the integrity of both professional hockey and related event contracts offered on CFTC-regulated exchanges.
“he CFTC and NHL each designated representatives who will discuss issues related to integrity, share information confidentially, and ensure open lines of communication,” the bodies said in a statement.
CFTC chairman Michael S. Selig said: “I’m proud the CFTC and NHL have officially signed an MOU, furthering the agency’s commitment to improve data sharing between professional sports leagues and the Commission. This agreement is another step towards safeguarding the integrity of sports and protecting market participants in prediction markets from insider trading, fraud, and other abuses. I applaud NHL Commissioner Bettman for collaborating with the CFTC and taking a leading role in protecting the integrity of professional hockey in our markets.”
NHL Commissioner Gary Bettman added: “Integrity has always been and remains paramount to the NHL and fundamental to the trust our fans and partners place in our game. Our agreement with the CFTC enhances the comprehensive integrity monitoring systems already in place and strengthens our ability to identify, deter, and address potential risks. This MOU reflects a shared commitment to transparency, oversight and protecting the integrity of the game.”
