The Commodity Futures Trading Commission and the NBA signed a memorandum of understanding to share information and flag abuses on prediction markets, including insider trading and fraud. The NBA thus joins the MLB and NHL, which have already concluded similar partnerships with the regulator. The agreement follows the arrests of Miami Heat guard Terry Rozier and a coach over alleged game-manipulation schemes. The CFTC classifies event contracts as swaps within its jurisdiction, a classification challenged by the NFL in a case brought before the Supreme Court against Kalshi. Bernstein projects that prediction markets could generate billions in revenue by the end of the decade.
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