Major League Baseball signs prediction markets pacts with CFTC, Polymarket
MLB has partnered with the CFTC and Polymarket to oversee prediction markets related to baseball events, aiming to protect against fraud and manipulation.Summary
Major League Baseball (MLB) has entered into a first-of-its-kind agreement with the Commodity Futures Trading Commission (CFTC) to share information and oversee prediction markets related to professional baseball. This collaboration, announced on Thursday, aims to safeguard these markets and their users from “fraud, manipulation, and other abuses,” according to CFTC Chairman Mike Selig. MLB Commissioner Rob Manfred emphasized the league’s commitment to protecting the integrity of the game and creating clear boundaries for fan engagement. Simultaneously, MLB designated Polymarket as its official “exclusive prediction market exchange partner.” This move comes as prediction markets gain popularity, and the CFTC, under new management, embraces the technology while navigating a jurisdictional debate with state gaming regulators. Manfred highlighted that federal regulation simplifies matters compared to the state-by-state approach of sports betting.
(Source：CoinDesk)