Business
NFL asks prediction market operators to refrain from ‘objectionable bets’
The NFL shield logo on the field during a preseason game between the Los Angeles Rams and the Houston Texans at NRG Stadium in Houston on Aug. 24, 2024.
Ric Tapia | Getty Images Sport | Getty Images
The NFL is asking prediction market operators to keep specific event contracts that the league deems “objectionable bets” off of their platforms.
In a letter obtained by CNBC, the league outlines examples of event contracts that would be easily manipulable by a single person, inherently objectionable, related to officiating and knowable in advance — and asks that operators refrain from offering such trades.
The NFL declined to comment on which companies received the letter, but said it was sent to operators that are registered with the Commodity Futures Trading Commission and that offer NFL trades.
Prediction platforms Kalshi and Polymarket have dominated the burgeoning predictions industry in recent months, spurring sports betting incumbents like FanDuel and DraftKings to enter the predictions space, as well.
“Sports prediction markets are not effectively regulated currently,” NFL executive vice president Jeff Miller said in a statement. “We will continue to engage with the CFTC in pursuit of the necessary guardrails to protect both the integrity of the game and consumers participating in these rapidly evolving markets.”
While some leagues such as the NHL, MLB and MLS have embraced prediction markets, signing operators as partners, the NFL has been more cautious.
“There is no greater priority for the NFL than protecting the integrity of our games and the welfare of our players,” the letter stated.
In the letter, signed by NFL Chief Compliance Officer Sabrina Perel, she says it is encouraging that the CTFC recognizes that sports-related prediction markets should be regulated differently than other futures contracts.
The examples provided in the letter of events that could be easily manipulated by a single person included whether a kicker would miss a field goal, a quarterback’s first pass being incomplete, or a receiver missing their first target.
The list also included non-game related event contracts, such as broadcast mentions, or appearances by fans or celebrities at the games. During the Super Bowl, these types of wagers were extremely popular, such as whether Jeff Bezos would be in attendance.
Kalshi CEO Tarek Mansour told CNBC after the February championship game that the prediction platform saw more than $100 million in trading volume alone on a question of what halftime performer Bad Bunny’s first song would be.
The league also took issue with “inherently objectionable” wagers such as play injuries, fan safety and play misconduct.
The letter concludes by saying the NFL would be happy to meet to discuss “our views on sports prediction markets in greater detail, including prohibited bettors, information sharing with leagues and responsible betting measures.”
Disclosure: CNBC and Kalshi have a commercial relationship that includes a CNBC minority investment.
Business
Why essentials like eggs, bread and milk cost so much more now
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Business
Spirit’s collapse, high fuel prices test limits of summer vacation spending
Travelers walk through the terminal at Ronald Reagan Washington National Airport on May 1, 2026.
Leslie Josephs | CNBC
Higher fuel prices are testing how badly consumers want to travel this summer, whether flying or driving.
Airfare hasn’t been this high since May 2022, when airlines stumbled out of the pandemic with aircraft and employee shortages to face hordes of consumers ready for “revenge travel.” Gasoline is above $4 a gallon and could get closer to $5 a gallon this summer, AAA warned this week.
Jet fuel prices doubled in the span of less than three months this year after the U.S. and Israel attacked Iran, kicking off a conflict that has left a key shipping channel effectively closed.
Domestic round-trip airfares in April averaged $623, the highest in nearly four years, according to data from the Airlines Reporting Corporation, which tracks travel agency ticket sales. Jet fuel is the second-biggest expense for airlines after labor, and carriers say they are increasingly passing those costs along to customers.
Separately, airlines are also trimming their growth plans because of higher fuel costs. Even if a route isn’t cut, fewer flights on certain routes means that customers will have fewer seats to choose from and, with demand robust, that could drive up prices even more.
Spirit Airlines, the most famous budget carrier in the U.S., shut down earlier this month, and partially blamed jet fuel prices for its failure to emerge from near back-to-back bankruptcies. It was the biggest U.S. airline collapse in decades. Other airlines swooped in to snatch up those customers in the aftermath, but the carrier’s demise removes a main purveyor of low fares.
The fuel spikes have set the stage for higher fares and more expensive gas station visits this summer. The start of the peak travel season Memorial Day weekend will be a taste of how much travelers will shell out to fly while everything from groceries to clothing has become more expensive this year.
The Transportation Security Administration said it expects to screen 18.3 million people between Thursday and next Wednesday, compared with the 18.5 million it saw over a similar period last year.
Lackluster road trip growth
Road trips won’t be a bargain either. AAA this week forecast 39.1 million people will drive at least 50 miles between Thursday and Monday, up just 0.1% compared with last Memorial Day weekend. That was the least growth in a decade, AAA told CNBC.
Gasoline price site GasBuddy forecast this week that prices across the U.S. will average $4.48 on Memorial Day, up from $3.14 last year, and that prices could average $4.80 through Labor Day “if the Strait of Hormuz remains closed for a significant portion of the summer.”
A customer fills his vehicle with fuel at a gas station in Miami, April 13, 2026.
Joe Raedle | Getty Images
Still flying
Leisure travel intentions in the U.S. were slightly lower in March — at 82.8% compared with 83.1% the same month a year earlier — though they are still relatively high, UBS said in a note Monday.
“We believe the year-over-year moderation in travel intentions this year was likely due to higher jet fuel and other geopolitical concerns,” UBS airline analyst Atul Maheswari wrote. He added that the intent to travel is near the highest points in the past nine years.
So far, airline executives said, customers are still booking, and executives are optimistic about the summer travel season. They’ve also said they’re expecting a boost from the FIFA World Cup, which will be held in June and July in the U.S., Canada and Mexico, and from major concerts such as Harry Styles’ residencies in Amsterdam and London this summer.
United Airlines said it expects to carry 53 million travelers between June and August, up 3 million people from last year. American Airlines has forecast 75 million customers between May 21 and Sept. 8, after Labor Day, topping its previous record, in 2019.
Refueling trucks at LaGuardia Airport in New York, April 23, 2026.
Zhang Fengguo | Xinhua News Agency | Getty Images
‘What are you waiting for?’
Airlines have been pruning their schedules and axing unprofitable or less profitable routes but have been eager to fill in the gaps after Spirit’s collapse.
Travelers can still find deals if they’re flexible, said Kyle Potter, who runs the Thrifty Traveler website. He recommended using tools such as the “Explorer” tool in Google Flights that allows users to look up destinations by the length of trip and by month in a map view.
He also suggested flyers consider traveling on a Tuesday or Wednesday, when fares and traffic are often lower.
“That, in many cases, can save you hundreds of dollars per ticket, and multiply that by a family of four,” he said.
He had a simple message for travelers sitting on piles of frequent flyer miles.
“Now is the time to use your miles or your credit card points or both,” he said, warning that miles can end up devalued. “What are you waiting for? I think a lot of people hoard their miles because they want to go to to Europe in 2027.”
— CNBC’s Contessa Brewer contributed to this report.
Business
‘Potential to diversify’: US state secretary Rubio pushes for US energy supplies to India in meeting with PM Modi
US Secretary of State Marco Rubio emphasised Washington’s intent to prevent geopolitical disruptions from distorting global energy markets, as tensions linked to the Iran conflict continue to affect oil supply routes and pricing dynamics.During discussions on energy security, Rubio’s office, quoted by Reuters, stressed that the US sees energy exports as a key instrument in strengthening partnerships, particularly with India, which remains a major crude importer navigating supply diversification challenges.In that context, Rubio said, “US energy products have the potential to diversify India’s energy supply.” He also emphasized a broader US position on global energy stability amid the Iran-related crisis, with his office adding, “the United States will not let Iran hold the global energy market hostage.”The remarks come as the Iran war has disrupted global energy flows and contributed to volatility in oil markets, complicating efforts by Washington to reduce India’s reliance on Russian crude imports. The instability has added a new layer of complexity to US energy diplomacy in Asia, where supply security has become increasingly central to strategic engagement.Officials indicated that the ripple effects of the conflict have not only impacted global pricing but also slowed parts of Washington’s broader effort to realign energy trade flows away from sanctioned or high-risk suppliers.Rubio’s comments were made alongside broader engagement in New Delhi, where he met Indian leadership to discuss energy cooperation, trade expansion under the “Mission 500” framework, and Indo-Pacific strategic alignment through the Quad.In earlier public remarks, Rubio had also signalled a more aggressive US commercial energy posture toward India, saying, “We want to sell them as much energy as they’ll buy.”Separately, he reiterated India’s importance in Washington’s strategic outlook, describing it as a key partner in shaping long-term regional stability while the US continues to manage the economic and geopolitical spillovers of the Iran conflict.
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