Dallas Mavericks owner Mark Cuban says he plans to start a hedge fund, run by professional gamblers, to make bets on sporting events.

In a 1,278-word weblog posted over the weekend, Cuban said a gambling hedge fund would be no worse than the stock market, which he compared to a Ponzi scheme, with some people trading on inside information and others buying stocks on emotion.

Cuban, who recently was the host of ABC's The Benefactor, made his fortune by selling his Internet company at the height of the dot-com boom, accused public companies of manipulating profit numbers and said the Securities and Exchange Commission fails to make companies follow the rules.

NBA spokesman Tim Frank said the league needed more information about Cuban's plans.

"It's just a blog entry," Frank said. "We just became aware of it this morning, and we haven't had a chance to review it."

In his weekend posting, Cuban said he has "done very well" in stocks over the past 15 years but that for many investors, putting money in stocks is nothing more than gambling.

Cuban added that from "minimal reading and conversations" about sports betting, there are smart gamblers who win repeatedly, which he attributed to the vast information available about sports teams.

In casinos, he added, "Unlike the stock market, you know the rules exactly. You know without question, the house is going to play by the rules. The gaming commission appears to actually enforce rules of play, unlike the SEC."