The NBA’s response to gambling scandals is to add more gambling partnerships
Reported by The Verge, not nibnow. We are not the publisher of this story, only the source is.
The NBA is expanding its ties to gambling firms even as it faces gambling scandals, signaling a shift in how the league monetizes betting and potentially affecting fans and players.
From the bright minds that brought you FTX Arena and NBA Top Shot NFT maketplace (where sales last month dropped to $762,781, which is a 99.66 percent decrease compared to the February 2021 peak of $226,350,843), the NBA announced Monday that it has new "preferred" prediction market deals for Kalshi and Polymarket, as well as a memorandum of understanding with the US CFTC about how to manage the relationships. It also announced an expansion of its DraftKings deal to include prediction markets, a
The NBA has previously partnered with companies like DraftKings for sports betting and launched NFT marketplace NBA Top Shot; prediction markets are platforms where users bet on outcomes, and the CFTC regulates U.S. derivatives and gambling-related financial products.
- •Details of the new preferred prediction market agreements with Kalshi and Polymarket
- •Implementation of the memorandum of understanding with the CFTC
- •How the expanded DraftKings partnership will be integrated into NBA offerings