Published on: November 4, 2025, 12:13h.
Updated on: November 4, 2025, 12:13h.
- The NCAA has requested revisions to the fine print concerning college sports event contracts from Kalshi
- The NCAA aims for clarity on Kalshi’s measures to uphold the integrity of college sports amidst sports contracts
In a correspondence from the NCAA to Kalshi, the online prediction marketplace that initiated sports event contracts in January, the governing sports body urges the platform to acknowledge its role in facilitating sports betting.
Scott Bearby, the NCAA’s chief legal officer and senior vice president, highlighted various concerns in a letter dated October 30, 2025, addressed to Kalshi.
Bearby primarily took issue with Kalshi’s suggestion of having a verification relationship with the NCAA regarding college sports outcomes. Bearby is requesting Kalshi to amend its fine print, modifying the assertion of verification to a designation of “sourced” from the NCAA.
Bearby is also insisting that Kalshi acknowledge its role, despite its assertions, as a facilitator of sports betting.
“We request that Kalshi include a disclaimer on any page related to an NCAA game or contest, such as: ‘Kalshi operates as an independent sports betting platform and is not associated, authorized, or endorsed in any capacity by the NCAA,’” Bearby suggested.
Kalshi maintains it does not qualify as a sportsbook since it does not operate as a “house” but enables peer-to-peer betting. However, recent reports, including insights from Sportico, indicate that Kalshi may indeed hold financial interests in certain sports event outcomes.
NCAA’s Requests
In addition to its request for clarifying disclosures distancing the NCAA from Kalshi, the association seeks the exclusion of contracts involving prop bets on student-athletes. Such bets can significantly influence the performance of individual players.
Critics of prop betting argue that this practice increases the risk of student-athletes being impacted by external influences. There are also concerns that prop bets may contribute to incidents of player harassment and abuse from disgruntled bettors.
“Numerous state legislators and gaming authorities concur with the NCAA’s perspective that prop betting markets elevate risks concerning integrity and harassment. Is Kalshi committed to prohibiting such predictive markets on its platform?” Bearby inquired.
The NCAA is looking for assurance that Kalshi is taking steps to ensure its online sports contracts do not compromise the integrity of college sports. Kalshi, for its part, announced in March a collaboration with IC360 for monitoring wagering patterns for irregular activities.
Kalshi expressed its appreciation for the NCAA’s feedback, stating it is “working on revising the language” related to settling sports events contracts, in addition to “reviewing and addressing the additional requests.”
Nevada’s Position
In the previous month, the Nevada Gaming Control Board echoed the NCAA’s assessment that sports event contracts provided by prediction markets like Kalshi amount to sports gambling.
“The Board regards the offering of sports event contracts, or certain other event contracts, as constituting wagering activity,” a notification to licensees stated. “Event contracts related to the outcome or partial outcome of any sporting or athletic event, or other selected events such as the World Series of Poker, the Oscars, esports, and political elections, are considered by the Board as wagering under its jurisdiction.”
The NGCB cautioned its licensees against engaging in unregulated sports event contracts, which they may consider as “illegitimate sports wagering.”