NFL urges CFTC to strengthen proposed rules on sports prediction markets
The NFL is calling for a series of restrictions and prohibitions for sports event contracts.
US.- The National Football League has told the Commodity Futures Trading Commission that its proposed rules for event contracts fall short of protecting the integrity of sporting events and fans. It’s called for prohibitions on contracts that are easily manipulable by a single person, depend on discretionary officiating decisions, are known or knowable in advance of settlement, or are inherently objectionable.
Examples cited include markets on whether a kicker misses a field goal, a quarterback’s first pass is incomplete, the first play of a game, coaching or roster decisions, player injuries, and certain awards such as Offensive Player of the Year. The NFL argued these contracts do not serve the public interest, raise manipulation risks, and can expose players, referees and coaches to threats or harassment.
The league also objects to a proposed 10-day review window for newly listed contracts, saying integrity threats may not be immediately apparent. It asked the CFTC to create a clear pathway for leagues to request emergency review and suspension of problematic markets.
On consumer protections, the NFL is calling for a minimum age of 21 for trading sports event contracts, mandatory league-specific prohibited-bettor lists, explicit rules treating the use of material non-public information obtained through a duty to a league or team as manipulative, and tools such as self-exclusion, deposit limits and activity notifications. It also urged a ban on margin trading for sports-related contracts.
In a July 27 letter to CFTC chairman Michael S. Selig, NFL Senior Vice President of Public Policy and Government Affairs Brendon Plack expressed surprise that integrity and consumer protection measures from a May 15 comment letter had not been adopted.
“The NFL’s highest priority is preserving the integrity of our games,” Plack wrote. “We believe that this integrity is crucial also to the stable and orderly administration of event contracts that trade on or in connection with our games and to the protection of traders in such contracts. While the Proposed Prediction Market Rulemaking contains several productive proposals, it must be strengthened in key areas.”
The comment period on the proposed rules closed on July 27.
