WASHINGTON - The Commodity Futures Trading Commission and Major League Baseball today announced the signing of a Memorandum of Understanding, the first of its kind between the CFTC and a professional sports league.

The MOU establishes a framework for the CFTC and MLB to discuss, cooperate, and exchange information concerning issues of common interest including protecting the integrity of professional baseball and the relating prediction markets.

The MOU provides a mechanism for the CFTC and MLB to exchange information in a manner consistent with applicable law, which will enable both parties to more swiftly respond to incidents and better anticipate emerging trends. Pursuant to this landmark MOU, the CFTC and MLB confirm their commitment to working together to further their respective missions.

"The MOU is a collaborative step towards promoting the integrity and resilience of the prediction markets relating to professional baseball. Through this MOU, the CFTC is well-positioned to add additional tools to protect these markets and its participants from fraud, manipulation, and other abuses," said CFTC Chairman Michael S. Selig. "I thank MLB and Commissioner Rob Manfred for partnering with the CFTC and taking a leading role in protecting the integrity of these growing markets."