Politics

Federal regulators have launched a review of so-called "mention markets" on prediction market sites, where bettors wager millions of dollars on the word choice of everyone from President Trump to soccer sportscasters, according to two people with direct knowledge of the probe who spoke to NPR on the condition of anonymity because they were not authorized to speak publicly.

In response, Kalshi, the largest prediction market in the U.S., has removed all mention markets from its betting offerings for sports as the Commodity Futures Trading Commission pursues its inquiry, according to one of the people.

While most sports betting on the site involves the action of the game, this separate type of betting has grown increasingly popular, allowing people to put money down on whether a sportscaster will say things like "MVP," "ankle" or "redshirt." These markets have now been taken down "until further notice" and it is unclear when or if Kalshi will bring them back, the person said.