PANews reported on February 7th that, according to an article in The New York Times, because on-chain prediction platforms are an emerging field and the NBA lacksPANews reported on February 7th that, according to an article in The New York Times, because on-chain prediction platforms are an emerging field and the NBA lacks
The New York Times: The NBA faces a regulatory vacuum in the gray area of prediction markets.
PANews reported on February 7th that, according to an article in The New York Times, because on-chain prediction platforms are an emerging field and the NBA lacks clear regulations, they fall into a gray area. NBA Commissioner Adam Silver faces a major challenge: is it illegal for star players to turn their transfers into financial products? It is reported that Giannis Antetokounmpo specifically chose to announce his ownership of the sports prediction platform Kalshi Sports after the player trade deadline, when all betting odds were settled, thus avoiding direct compliance scrutiny during the trade period. It is understood that Kalshi had as much as $23.31 million in bets on whether Antetokounmpo would leave before the deadline, while the Milwaukee Bucks announced hours before the deadline that they would not trade Antetokounmpo this season.
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