Overview
- The NCAA formally requested that Kalshi immediately remove NCAA trademarks, including the phrase “March Madness,” from its platform, citing a risk of implied endorsement.
- Kalshi has said it is reviewing its site language and has begun removing some references, though examples still appeared on the platform as of February 21, according to analyst Dustin Gouker.
- NCAA legal chief Scott Bearby objected to the platform phrase “Outcome verified from NCAA” and urged a switch to “Outcome sourced from NCAA.com” with a clear non-affiliation disclaimer.
- NCAA president Charlie Baker asked the CFTC in January to pause college sports prediction markets until stronger safeguards are in place due to concerns over age verification, harassment, and insider-driven activity.
- The dispute unfolds as the CFTC asserts primary authority over prediction markets while several states and courts challenge certain contracts, and as Kalshi scales back controversial ideas like transfer-portal markets.