Kalshi backs away from college athlete transfer markets after NCAA president blasts possibility

Prediction market Kalshi announced it has no immediate plans to list contracts allowing users to wager on whether top college athletes will enter the transfer portal, despite having sought regulatory permission.

This decision followed strong condemnation from NCAA President Charlie Baker, who vehemently opposed such markets, arguing they would subject student-athletes to increased harassment over lost bets and threaten competition integrity. Kalshi stated that it often certifies markets it ultimately chooses not to launch, citing an example of a potential market on animal de-extinction.

In response to Baker's claim that Kalshi was unregulated, a spokesperson clarified that Kalshi is a federally regulated exchange governed by the Commodity Exchange Act, operating as a Designated Contract Market.

(Source：The Block)