A University of Tennessee student worker was fired from his job after it was discovered he had wagered on the school’s football game at Kalshi.
Kalshi started offering college football markets in August last year, and the worker, who has not been named, allegedly placed the wagers in October.
In addition to trading on Tennessee’s game, the worker, who was employed in the university’s in-house broadcast team, placed wagers on the NFL and NBA.
The college game he bet on has not been identified. In October, the football team beat Arkansas and Kentucky, while losing to Alabama. Under NCAA rules, student workers, as well as athletes, coaches, and staff, are prohibited from wagering on any sports.
The wagers placed at Kalshi were flagged by ProhiBet, a sports wager monitoring service used by major sports leagues and most college conferences, including the SEC. Kalshi, along with several sportsbooks, also utilizes the monitoring service.
NCAA’s Reversal of Rule Allowing Sports Betting
The worker would have undergone in-house training on NCAA rules regarding sports gambling. It is unclear if the university specifically warns student workers about trading on prediction markets.
In October, when the bets were placed, the NCAA also approved a change in its gambling rules. The change allowed students and workers to gamble on pro sports, but college sports betting remained prohibited.
The rule change was reversed in November amid several betting scandals. It was around this time that the college was alerted to the wagers placed by the worker, leading to an immediate dismissal.
A spokesperson for the university said the dismissal was an institutional decision, rather than one enforced by the NCAA.
NCAA Strongly Opposes Prediction Markets
The NCAA has been vocal in its opposition to prediction markets on college sports. When Kalshi first started offering the markets in August, Tim Buckley, Senior Vice President of External Affairs at the NCAA, said he was “deeply concerned” by the markets, which he claimed “pose a threat to competition integrity and student-athlete safety.”
Last month, NCAA President Charlie Baker wrote to the Commodity Futures Trading Commission (CFTC), urging its chair, Michael Selig, to prevent platforms such as Kalshi from offering college sports markets.
Baker wrote, “I implore you to suspend collegiate sport prediction markets until a more robust system with appropriate safeguards is in place.”
While Kalshi continues to offer college sports markets, it rolled back plans to offer transfer portal contracts. Baker had said that offering markets on transfer decisions was “absolutely unacceptable.”
The post Tennessee Student Worker Fired After Betting on Volunteers’ Football Game at Kalshi appeared first on CasinoBeats.
A University of Tennessee student worker was fired from his job after it was discovered he had wagered on the school’s football game at Kalshi. Kalshi started offering college football markets in August last year, and the worker, who has not been named, allegedly placed the wagers in October. In addition to trading on Tennessee’s
The post Tennessee Student Worker Fired After Betting on Volunteers’ Football Game at Kalshi appeared first on CasinoBeats.