AI summary
The NBA is deepening gambling partnerships despite scandals and failing NFT ventures, prioritizing new revenue streams over addressing its problematic history.
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The NBA’s response to gambling scandals is to add more gambling partnerships
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From the bright minds that brought you FTX Arena and NBA Top Shot NFT maketplace (where sales last month dropped to $762,781, which is a 99.66 percent decrease compared to the February 2021 peak of $226,350,843), the NBA announced Monday that it has new "preferred" prediction market deals for Kalshi and Polymarket, as well as a memorandum of understanding with the US CFTC about how to manage the relationships. It also announced an expansion of its DraftKings deal to include prediction markets, and says that more expansions will be announced with others soon. The NBA is already facing scandals after Jontay Porter pleaded guilty to conspiracy … Read the full story at The Verge.
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