For the time being, the NFL is avoiding prediction markets.

The NFL is determined to keep “The Shield” safe at all times, and it won’t allow the legal and regulatory ambiguity surrounding prediction markets to jeopardize the league’s reputation.

However, that might be a different matter if the legal and regulatory ambiguity were to resolve.

NFL commissioner Roger Goodell made an appearance on Wednesday at an investor event hosted by Genius Sports Ltd., a sports betting data technology business that is the league’s investment and partner.

In response to a question concerning prediction markets, Goodell stated that his league is waiting to do business with the federally authorized exchanges.

Goodell stated, “We’re not going to get into that.”

ALSO READ: Kalshi takes the Connecticut regulator to court over a cease and desist letter.

The commissioner clarified that the NFL will instead “see how things play out,” pointing out that there are now “a lot of legal challenges going on” with prediction markets.

The legality of sports event contracts, which prediction markets have started to offer over the past year and which enable the exchanges to enable de facto sports betting in all 50 states, is the primary focus of these challenges.

“In many areas, we’re willing to say, ‘We’re going to let things play out, we’re going to decide is this something we want to do,’ but in many other areas, we’d like to be first in the market,” Goodell stated. “We take the risk to the brand very seriously, and we won’t risk that brand in anything until we are sure we can do it and if we see it work out in a way that benefits us.”

According to Goodell, this also applies to sports betting and prediction markets, as well as private-equity ownership of NFL franchises.

Courtesy: https://www.covers.com, https://www.casino.org, https://pechanga.net