NBA Commissioner: Hopes to obtain prediction market data to identify market manipulation

NBA Commissioner Adam Silver said in an interview on Friday that he hopes to be able to access prediction market data for regulatory purposes and to detect insider trading. Silver said: "Whether it's called a prediction market or sports betting, for our league, and I think for all sports leagues, the issue we face is the sameintegrity is always paramount. We want access to the relevant data, and we also want to have control over that market." Citing contracts related to whether a head coach will be fired as an example, Silver said such trading constitutes "anomalous behavior." Just one day before these remarks, the National Football League submitted an amicus brief to the Supreme Court supporting the position of New Jersey regulators, arguing that sports-related contracts in prediction markets fall under the category of gambling rather than financial swaps. Financial swaps are subject to federal-level regulation by the U.S. Commodity Futures Trading Commission.