Kalshi: There are no plans to release a contract predicting college athlete transfers at this time.
TL;DR
Kalshi has no immediate plans to launch contracts for betting on college athlete transfers, despite seeking regulatory approval. The NCAA strongly opposes such markets, citing pressure on athletes and integrity concerns, while Kalshi defends its regulated status.
According to Odaily Odaily, prediction market platform Kalshi stated that even though the company has sought regulatory approval, it currently has no plans to allow users to bet on whether top college athletes will enter the transfer window.
A Kalshi spokesperson told The Block, "We have no plans to launch these contracts immediately." He noted that Kalshi frequently certifies its marketplace (i.e., seeks permission to launch), but ultimately doesn't make them available to users. The spokesperson cited as an example several contracts Kalshi certified but never launched, including one that allowed users to bet on whether an animal would become extinct.
The news that Kalshi might be listing college athlete transfer contracts quickly drew criticism from the National Collegiate Athletic Association (NCAA). NCAA President Charlie Baker posted on the X platform, stating, "The NCAA strongly opposes the college sports prediction market."
Charlie Baker added: “It’s bad enough that student-athletes are already facing harassment and abuse for poor performance, but now Kalshi wants to put their transfer decisions and form on the line. This is absolutely unacceptable. It will put even more pressure on student-athletes and threaten the integrity of the competition and the recruitment process.”
When a college athlete enters the transfer portal, they formally indicate their interest in transferring to another school, which opens doors for other programs to contact them. According to ESPN, Kalshi stated in a filing with the Commodity Futures Trading Commission (CFTC) that transfer portal contracts would begin listing on Wednesday.
Charlie Baker said Wednesday that college athletes' "decisions and future should not be gambled on, especially in an unregulated market that does not follow the rules of any legitimate sports betting operator."
Kalshi refuted this claim. A spokesperson told The Block, "It's inaccurate to say we're unregulated. We are a federally regulated exchange, subject to the Commodity Exchange Act and its hundreds of regulations." According to Kalshi's website, the company is regulated as a Designated Contract Market, allowing trading in futures, swaps, and commodity options.
Kalshi and its main competitor Polymarket both offer event contracts that allow users to bet on the outcomes of college games, particularly football and basketball. (The Block)