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first_img NBA and CFTC signed a memorandum of understanding on the integrity of prediction markets, while the NFL is still fighting in the Supreme Court

The U.S. Commodity Futures Trading Commission (CFTC) announced a memorandum of understanding with the NBA to jointly maintain the integrity of professional basketball events in prediction markets. According to the agreement, both parties will share information, maintain regular communication on integrity matters, and collaborate to ensure that relevant markets are fair and transparent. CFTC Chairman Michael Selig stated that the NBA, along with MLB and NHL, has taken a responsible step to protect sports integrity and market participants from abuses such as insider trading and fraud, and thanked NBA President Adam Silver for prioritizing the integrity of professional basketball and the U.S. financial markets.The agreement reflects that betting on sports event outcomes is rapidly migrating to CFTC-regulated platforms like Kalshi and Polymarket, where users can trade event contracts based on real-world outcomes. Such memorandums of understanding with regulatory agencies aim to establish channels for marking suspicious activities. Previously, the NHL became the first major league to authorize trademarks for prediction markets, while MLB signed an integrity agreement after collaborating with Polymarket. The NBA's involvement is particularly noteworthy, as the league is still affected by one of the largest betting scandals in recent years: in October 2025, an FBI operation arrested Miami Heat guard Terry Rozier and a coach, accusing them of participating in a gambling scheme to manipulate game outcomes to influence betting.This collaboration comes amid a jurisdictional dispute over prediction markets. The CFTC recently defined event contracts as swaps within its jurisdiction and excluded casino-style gambling; the lawsuit between the NFL and Kalshi has drawn the attention of the Supreme Court, with the NFL to date refusing to sign related agreements, contrasting with its cooperation with the NBA. Bernstein analysts expect that by the end of this decade, prediction markets could generate billions of dollars in revenue, with new participants continuously entering, and Blockchain.com is one of the latest seeking CFTC approval to offer event contracts.

Bloomberg: The Ripple case is a good sign for other crypto companies fighting the SEC

ChainCatcher news, according to Bloomberg, last week a federal judge ordered Ripple Labs Inc. to pay a $125 million civil penalty because the company sold its XRP tokens to institutional investors without registering with the U.S. Securities and Exchange Commission (SEC). This fine is just a small part of the $2 billion the agency is seeking, which could be good news for other crypto companies fighting the SEC.Ripple's case began in December 2020 when the SEC sued Ripple and its executives, accusing them of "creating an information vacuum." This lawsuit united the entire crypto industry in support of XRP. More than a dozen advocacy groups wrote to U.S. District Judge Analisa Torres, supporting Ripple's position. Since then, the SEC has initiated enforcement actions against several crypto companies. However, Ripple's case is seen as a potential milestone that could set a precedent regarding whether cryptocurrencies are considered securities.The judge issued an injunction prohibiting Ripple from further violating securities laws. However, she rejected the SEC's request for Ripple to return sales profits, stating that the case "does not involve allegations of fraud, misappropriation, or other more serious conduct," and that the SEC failed to prove that Ripple's unregistered sales caused significant losses to investors.The SEC may challenge the judge's ruling in an appeal. Bloomberg Intelligence analyst Elliot Stein stated that Torres's latest ruling is favorable for Coinbase Global Inc. in its fight with the agency and may increase its chances of obtaining a favorable ruling in the case.
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