CFTC, NBA partner to protect prediction market integrity

(PRESS RELEASE) -- The Commodity Futures Trading Commission and the National Basketball Association today announced their signing of a Memorandum of Understanding intended to protect the integrity of professional basketball in prediction markets.

Through the MOU, the CFTC and NBA will better share information by regularly communicating and discussing matters relating to integrity, as well as maintaining fair and transparent prediction markets.

“I’m pleased the CFTC and NBA signed an MOU which continues the Commission’s commitment to increasing data sharing between the agency and professional sports leagues,” said CFTC Chairman Michael S. Selig. “The NBA joins the MLB and NHL in taking a responsible step toward protecting sports integrity and market participants from abuses in prediction markets like insider trading and fraud. I thank NBA Commissioner Adam Silver for putting the integrity of professional basketball and America’s financial markets first and for working with the CFTC on this MOU.”