NFL prohibits league personnel from trading sports events contracts
The league’s Chief Compliance Officer Sabrina Perel spoke to reporters on August 25, stating the platforms ‘mimic sports betting’ and are ruled as ‘prohibited’ under official NFL policy.
Key Points
- Perel also stated the NFL submitted comments to advocate against sports events contracts to the CFTC in 2024
- On August 20, FanDuel formed a new partnership with derivatives marketplace CME Group to begin the development of “fully funded, event-based contracts with defined risk”
National Football League (NFL) Chief Compliance Officer Sabrina Perel confirmed to reporters on August 25 that all league personnel, including executives and players, are barred from participating in the trading of sports events contracts.
Perel stated the league believes trading sports events contracts “mimics sports betting” and is officially ruled as “prohibited” under official NFL policy, also claiming the platforms “lack regulatory requirements that we know regulated sportsbooks are subjected to.”
Despite league personnel being prohibited to trade sports events contracts, prediction markets such as those operated by Robinhood currently offer trading on the results of NFL games for consumers. Perel stated the NFL submitted comments to advocate against sports events contracts to the Commodities Futures Trading Commission (CFTC) in 2024.
On August 20, FanDuel formed a new partnership with derivatives marketplace CME Group to begin the development of “fully funded, event-based contracts with defined risk,” where customers will have the opportunity to “express their views” multiple times a day on numerous markets with “yes” or “no” positions for as low as $1.
Good to know: Massachusetts Representative David Muradian introduced House Bill 4431 which would prohibit any online game, contest or promotion that simulates casino gaming, lottery or sports betting and utilizes a dual-currency system of payment
As part of the agreement, CME Group and FanDuel will form a new joint venture to operate a non-clearing futures commission merchant (FCM) and offer access to event-based contracts through the sports betting operator.
Expected to launch in late 2025, the products will include benchmarks such as the S&P 500 and Nasdaq-100, prices of oil and gas, gold, cryptocurrencies and key economic indicators such as GDP and CPI.
Tags/Keywords
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
