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| 2023-12-02 00:00:00 | Seattle Cougars | | Demoted | James Poma | Vancouver Mounties |
| 2023-12-02 00:00:00 | St. Louis 5th Alarm | | Demoted | Joseph Odonnell | Caracas Crocodiles |
| 2023-12-02 00:00:00 | Indianapolis Tornadoes | | Demoted | Alexander Smyth | Buenos Aires Eagles |
| 2023-12-02 00:00:00 | Dallas Hounds | | Demoted | Thomas Halasz | Norfolk Wolves |
| 2023-12-02 00:00:00 | Tampa Runner-ups | | Promoted | Justin Cooper | Atlanta Eels |
| 2023-12-01 07:59:44 | Philadelphia Assassins | Jose Combs | Acquired via trade | 1st round pick in season 38 | Louisville Colonels |
| 2023-12-01 07:59:44 | Philadelphia Assassins | 2nd round pick in season 39 | Acquired via trade | 1st round pick in season 39 | Louisville Colonels |
| 2023-12-01 00:00:00 | Salt Lake City Night Hawks | | Demoted | Luis Torrence | Toronto Huskies |
| 2023-12-01 00:00:00 | Salt Lake City Night Hawks | | Demoted | Royce Hegland | Toronto Huskies |
| 2023-12-01 00:00:00 | New York Warriors | | Demoted | Jeffrey Benjamin | Hartford Hebrew Hammers |
| 2023-12-01 00:00:00 | Cleveland Weasels | | Demoted | Brandon Haliburton | Pittsburgh Berserkers |
| 2023-12-01 00:00:00 | Syracuse River Rats | | Promoted | Deep Green | Houston Octopods |
| 2023-12-01 00:00:00 | Houston Octopods | | Demoted | Jacob Northrop | Syracuse River Rats |
| 2023-12-01 00:00:00 | Kansas City Wildcats | | Demoted | Kenneth McGriff | Santa Fe Zeppelins |
| 2023-12-01 00:00:00 | Santa Fe Zeppelins | | Promoted | Joshua Suggs | Kansas City Wildcats |
| 2023-12-01 00:00:00 | Santa Fe Zeppelins | | Promoted | Timothy Morton | Kansas City Wildcats |
| 2023-12-01 00:00:00 | Kansas City Wildcats | | Demoted | Jeffery Carr | Santa Fe Zeppelins |
| 2023-12-01 00:00:00 | Atlanta Eels | | Demoted | Elijah Marti | Tampa Runner-ups |
| 2023-12-01 00:00:00 | Las Vegas Dark Knights | | Demoted | Chad Robinson | Knoxville Wampus Cats |
| 2023-12-01 00:00:00 | Buffalo Bombers | | Promoted | Brian Thomas | Louisville Colonels |
| 2023-12-01 00:00:00 | Louisville Colonels | | Demoted | Calvin Scruggs | Buffalo Bombers |
| 2023-11-30 11:30:32 | Philadelphia Assassins | Elijah Harris | Acquired via trade | 1st round pick in season 38 | San Diego Sabercats |
| 2023-11-30 11:30:32 | Philadelphia Assassins | 1st round pick in season 38 | Acquired via trade | | San Diego Sabercats |
| 2023-11-30 00:00:00 | San Francisco Golden Gators | | Demoted | Benjamin Spence | Little Rock Fighting Farmers |
| 2023-11-30 00:00:00 | Buffalo Bombers | | Promoted | Cody Parsons | Louisville Colonels |