The group says contracts mirror sports betting but lack safeguards, warning transfer portal markets could pose “catastrophic” risks to student athletes.

The NCAA has been wrestling with gambling since a Supreme Court ruling lifted the nationwide ban on sports betting in 2018. In November, the NCAA passed, then quickly rescinded, a rule that would have allowed staff and athletes to bet on professional games.

Prediction markets are regulated by the CFTC, but do not have to meet oversight standards as online sportsbooks.

Wisconsin guard Nick Boyd is The Associated Press men's college basketball national player of the week for Week 10.