TLDR NBA Commissioner Adam Silver is treating prediction markets the same as traditional sportsbooks under the league’s integrity framework Silver called Giannis Antetokounmpo’s investment in Kalshi “minuscule” and within collectively bargained rules The NHL and MLS have signed commercial deals with Kalshi and Polymarket, while the NFL, NBA, and MLB remain cautious Kalshi hit a daily record of over $1 billion in trading volume on Super Bowl Sunday, up 2,700% year-over-year The core legal fight centers on one word: “gaming,” and how the CFTC defines it under the Commodity Exchange Act
NBA Commissioner Adam Silver said his league views prediction markets the same way it views traditional sports betting companies. He made the comments around All-Star Weekend in Los Angeles.
Silver said the NBA is applying its existing sports-betting integrity framework to platforms like Kalshi and Polymarket. He noted the issue will likely be settled by the courts and Congress.
Silver also addressed Giannis Antetokounmpo’s investment in Kalshi. He said the investment is “much smaller than 1%,” which keeps it within the limits set by the league’s collective bargaining agreement with the Players Association.
Prediction markets let traders buy and sell contracts on future events, priced between $0 and $1. Unlike sportsbooks, the platform doesn’t take the other side of the bet — traders are matched with each other.
Kalshi set a daily trading record on Super Bowl Sunday, topping $1 billion in volume. That was a 2,700% increase compared to the same day the previous year.
The platforms are regulated by the Commodity Futures Trading Commission, not by state governments. That puts them in a different legal category than sportsbooks, which are regulated state by state.
The key legal question is whether prediction markets count as “gaming” under the Commodity Exchange Act. Multiple court cases are