The NCAA said Thursday it was "deeply concerned" about the lack of guardrails for the online prediction markets that are challenging betting industry norms after financial company Robinhood began allowing trades on college football.

Robinhood announced Tuesday that it was launching markets on the outcomes of professional and college football games this season. The company said in a release that it will allow customers to trade on the outcomes of every NFL game and every college game involving schools from the Power 4 conferences and independents. A market on the winner of Saturday's Iowa State - Kansas State game was open for trading Thursday night. Robinhood also offered a market on the Heisman Trophy winner.

Robinhood's move is in partnership with the financial exchange Kalshi, whi

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