Kalshi: No plans to launch prediction contracts for college athlete transfers at this time

According to Odaily, prediction market platform Kalshi stated that even though the company has sought regulatory approval, there are currently no plans to allow users to bet on whether top college athletes will enter the transfer portal.

A Kalshi spokesperson told The Block: "We have no immediate plans to launch these contracts." He noted that Kalshi often certifies markets (i.e., seeks permission for potential listings), but ultimately does not offer them to users. The spokesperson gave an example that Kalshi had certified some contracts but did not list them, including one that would have allowed users to bet on whether animals would go extinct.

The news that Kalshi might launch contracts on college athlete transfer events quickly drew dissatisfaction from the National Collegiate Athletic Association (NCAA). NCAA President Charlie Baker posted on X: "The NCAA strongly opposes college sports prediction markets."

Charlie Baker added: "It is already bad enough that student-athletes face harassment and abuse for poor performance in games, and now Kalshi wants to offer bets on their transfer decisions and status. This is absolutely unacceptable, as it will put even more pressure on student-athletes and threaten the integrity of competitions and the recruiting process."

When a college athlete enters the transfer portal, they officially indicate their interest in transferring to another school, which also opens the door for other programs to contact them. According to ESPN, Kalshi stated in documents submitted to the Commodity Futures Trading Commission (CFTC) that the transfer portal contracts would be listed starting Wednesday.

On Wednesday, Charlie Baker stated that college athletes' "decisions and futures 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. A spokesperson told The Block: "It is inaccurate to say we are unregulated. We are a federally regulated exchange, subject to the Commodity Exchange Act and its hundreds of regulations." According to information on Kalshi's official website, the company is regulated as a Designated Contract Market, allowing trading in futures, swaps, and commodity options.

Both Kalshi and its main competitor Polymarket have listed event contracts that allow users to bet on the outcomes of college games, especially football and basketball. (The Block)