NCAA Asks Kalshi to Concede That It’s a ‘Sports Betting Platform’

The NCAA, which oversees college athletics, has sent a letter to Kalshi, the online prediction market that began offering contracts for sporting events in January, asking the gambling site to admit that it allows sports betting.

In a letter dated October 30, 2025, Scott Bearby, senior vice president and chief legal officer of the NCAA, addressed Kalshi on a number of issues.

Bearby was most offended by Kalshi's apparent suggestion that it has a connection to the NCAA to confirm college sports results. Bearby asks Kalshi to change the fine language on contracts for college sporting events so that the outcome is "sourced" from the NCAA rather than "verified by the NCAA."

Bearby also wants Kalshi to reveal that it is a sports betting facilitator, despite the company's repeated protestations to the contrary.

"We ask that Kalshi add a disclaimer to any page related to an NCAA game or contest. For example, ‘Kalshi is an independent sports betting platform and is not affiliated, associated, authorized, endorsed by, or in any way officially connected with the NCAA,'” Bearby recommended.

According to Kalshi, it is not a sportsbook since it allows peer-to-peer betting rather than acting as a "house." However, Kalshi does have a financial interest in the results of several sporting events, according to recent reports, including one from Sportico.

NCAA Requests 

The organization is requesting that contracts involving student-athlete props be excluded from the online wagering platform in addition to disclosures that set the NCAA apart from Kalshi. One player's performance can have a significant or total impact on these bets.

Critics of prop bets claim that this increases the likelihood that student-athletes would be swayed by outside influences. Additionally, an increase in player abuse and harassment from irate bettors has been attributed to props.

“Many state legislators and gaming authorities have agreed with the NCAA’s stance that prop betting markets heighten the risk of integrity and harassment concerns. Is Kalshi committed to forbidding similar predictive markets on their platforms?” Bearby asked.

Additionally, the NCAA wants to know how Kalshi makes sure that the integrity of collegiate athletics is not compromised by its online sports contracts. To its credit, Kalshi said in March that it would collaborate with IC360, a data analytics company, to keep an eye on wagering for questionable conduct.

Kalshi stated that it appreciates the NCAA's feedback and is "working on adjusting the language" in relation to contracts for sporting events. It is "reviewing and addressing the additional requests," Kalshi continued.

Nevada concurs

The Nevada Gaming Control Board (NGCB) agreed with the NCAA last month that contracts for sporting events provided by prediction markets such as Kalshi are considered sports gambling.

"The Board considers offering sports event contracts, or certain other events contracts, as constituting wagering activity,” a notice to licensees advised. “Examples of event contracts that the Board specifically considers to be wagering subject to its jurisdiction include event contracts based on the outcome or partial outcome of any sporting or athletic event, or other selected events such as the World Series of Poker, the Oscars, esports, and political elections.”

Licensees that enter into contracts for unregulated sporting events may be involved in "unlawful sports wagering," the NGCB cautioned.