NFL Taking Patient Approach to Prediction Market Partnerships

When it comes to the NFL and prediction market platforms, NFL Commissioner Roger Goodell has told reporters that the league will be patient. However, various platforms and the Commodity Futures Trading Commission have been cooperative, so this could be until it's "safe" for the entities to partner up. 

Ahead of Week 1, the NFL sent out letters to prediction market platforms warning them about "objectionable" contracts. 

“It is deeply concerning that bets within the objectionable categories that we identified months ago have been and continue to be listed as contracts on exchanges,” NFL Chief Compliance Officer Sabrina Perel wrote. 

"The letter also mentions proposed rulemaking set forth by the Commodity Futures Trading Commission, which states that prediction markets should consult with leagues before posting certain contracts. In fact, CFTC Chair Michael Selig said that “the leagues are very well-positioned to make those calls.”

Kalshi and Polymarket followed suit, removing some contracts, and Novig never offered them to begin with. 

Goodell Wants 'Strong Regulations' for Prediction Markets

In a conversation with CNBC, Goodell said he was looking for "strong regulations" on prediction market platforms to protect the integrity of the NFL. 

“So, we’re continuing to have conversations with them and talk to them about the things that we think they need to do to strengthen that so that they could be potential partners at some point in the future,” Goodell added.

The NFL letter wasn't the first, though. The first came back in March, but that didn't seem to have to much of an impact at Polymarket and Kalshi both offered contracts related to the Week 1 playing status of certain players. However, again, they were eventually removed. 

As mentioned, Novig agreed with the NFL, and they're also the only prediction market platform that requires players to be 21 or older. 

NFL Won't Rush Into Prediction Market Partnership

Going back to the CNBC interview, Goodell said there are "a lot of things going on" with prediction market platforms, and that's a light way of putting it. Numerous lawsuits and other legal notices are underway across various states, including Missouri issuing cease-and-desist notices to Kalshi. 

Goodell also stressed that they don't want to be the first, but rather do it right, when it comes to linking up with prediction market platforms. 

“We don’t feel like we have to be first in this,” Goodell added. “We feel like we’re going to be right, and the best thing to do is be patient.”