Catherine Long

The NCAA has taken a pretty negative tone towards prediction markets.

It's asked the Commodities Futures Trading Commission, the federal agency that regulates prediction markets,

to try to bar them from offering markets pertaining to college sports.

Its worry is really about the integrity of college athletics.

We've seen that when people are able to bet on college sports, it's possible that there are instances of activity like point shaving and match fixing.

The NCAA is trying hard to prevent that.

It also knows that when people are able to bet on college sports, college athletes come in for abuse if things don't go the way that bettors had wanted them to.

A variety of lawmakers have proposed legislation that would restrict trading on prediction markets by government officials.

The reason that we started getting into this is because people age 18 and up can trade on prediction markets.

Most states prevent people who are under 21 from gambling on things like online sportsbooks.

And that creates an opportunity for prediction markets to sign up new users who are between 18 and 21.

It's a three-year window where they can really attempt to dominate the market.

Polymarket has said that its collaboration with student groups help it to gain insights about its platform and its products.

And as of this taping, Kalshi has not yet responded to our request for comment.