Overview
- Kalshi notified the CFTC it had self-certified contracts on whether specific Division I athletes will enter the transfer portal or transfer to particular teams, citing an initial listing date of Dec. 17.
- Despite the filing, transfer-portal markets were not live as of Wednesday evening, and a company spokesperson said Kalshi often certifies markets it does not list and has no immediate plans to offer these contracts.
- Contracts would settle on public announcements, including a player’s social-media post, agent statements, or school releases, and a later reversal by the athlete would still result in a ‘yes’ outcome.
- The proposal restricts trading by the athlete involved and a broad set of people with potential inside information, including coaches, athletic staff, agents, certain NCAA employees, recruiting services, and immediate family or household members.
- NCAA president Charlie Baker condemned the plan as harmful to student-athletes and competition integrity, while questions persist over manipulation safeguards because some of Kalshi’s anti-manipulation evidence is filed confidentially even as the company cites in-house and third-party surveillance with Integrity Compliance 360.