National Council on Problem Gambling Hiring for Prediction Markets Initiative

The National Council on Problem Gambling (NCPG) is hiring for two roles focused on its recently created Financial Services & Trading membership subcategory. A screenshot of the National Council on Problem Gambling website lists an open role for a senior manager in Financial Services & Trading Initiatives. The role is funded by a $2 million grant from the prediction markets industry. (Image: Casino.org) The NCPG is seeking a senior manager and communications manager to support the organization’s Financial Trader Health and Safety Initiative, a program designed to “advance responsible trading and trader health within financial market environments.” NCPG raised eyebrows in May when it created the Financial Services & Trading membership subcategory and took a $2 million contribution from the prediction market industry that led to the Financial Trader Health and Safety Initiative. Prediction markets and the federal agency that regulates them, the Commodity Futures Trading Commission (CFTC), claim trading on sports outcomes, cryptocurrency prices, the weather, politics, and cultural happenings doesn’t constitute gambling but innovative speculative trading. Responsible Prediction Market Standards The NCPG says the goal of the Financial Trader Health and Safety Initiative is to establish consumer protection standards for the prediction market industry, increase public education about trading-related financial risks, and promote responsible trading policies, tools, and access to support. Regardless of how an activity is legally defined, if it functions like gambling and carries similar risks of harm, it warrants meaningful consumer protections, prevention efforts, and access to care,” NCPG Executive Director Health Maurer wrote on LinkedIn this week. “As sports betting, online gambling, gaming, prediction markets, and other emerging forms of wagering continue to evolve, our approach to preventing and mitigating harm must evolve with them.” The NCPG senior manager role, the nonprofit says, will lead the day-to-day strategy and growth of the Financial Trader Health and Safety Initiative. The person will develop and manage project timelines, goals, milestones, and performance metrics, coordinate initiative activities across NCPG departments and external partners, and monitor developments in financial trading, prediction markets, fintech, and consumer protection. The communications role will lead in the development and implementation of consumer-facing initiatives designed to educate and increase public awareness, improve the understanding of trading-related risks, promote informed decision-making, and encourage early help-seeking behaviors. The role will require creating educational campaigns, digital content, and other outreach strategies that communicate the complexity of prediction markets in a clear, engaging, and digestible manner. The senior manager role is advertised at $100,000-$115,000 in salary and benefits, while the communications role is offered at $70,000-$85,000. Both roles are remote but require up to 20% travel. Prediction Market Losses In theory, prediction markets are peer-to-peer exchanges where users buy and sell shares of event outcomes among one another. In reality, retail traders are often trading against a large financial institution acting as a market maker for liquidity purposes. Recent studies suggest retail traders are losing much more often than they win. In April, Bloomberg reported that there are almost twice the number of accounts on Polymarket that lost at least $1,000 compared to accounts that made that much. The business news outlet found that around 69% of traders lose, while the top 1% of winning accounts account for three-quarters of the profits. The post National Council on Problem Gambling Hiring for Prediction Markets Initiative appeared first on Casino.org.