Key Moments:
- PrizePicks has unveiled a multi-year agreement with Polymarket to provide event contracts in its upcoming prediction markets offering.
- PrizePicks became the first sports entertainment operator registered as a Futures Commission Merchant (FCM) by the NFA, authorizing it to offer CFTC-permitted derivatives contracts.
- DraftKings and Trump Media and Technology Group have also announced recent moves into the prediction markets sector.
Partnership to Introduce New Prediction Market Experience
PrizePicks, a leader in the daily fantasy sports sector, has confirmed a long-term partnership with Polymarket. This collaboration will allow customers to purchase event contracts as part of PrizePicks’ upcoming predictions markets product.
Regulatory Milestone Enables Expansion
PrizePicks has recently taken a significant step by becoming the first sports entertainment operator to secure registration as a Futures Commission Merchant (FCM) with the National Futures Association (NFA). This status enables the company to offer derivatives contracts permitted by the Commodity Futures Trading Commission (CFTC) by working alongside federally regulated exchanges.
Executive Perspectives
Mike Ybarra, CEO of PrizePicks, said: “As the No. 1 daily fantasy sports operator in the US, PrizePicks is thrilled to partner with Polymarket, a trailblazer in the prediction space, to open up new experiences for our millions of existing members and introduce our platform to millions of new customers. By entering the US predictions market, PrizePicks will create greater competition, drive innovation and deliver even more value directly to members. Together with Polymarket, we’ll continue to focus on product, innovation, and exceeding our customers’ expectations.”
Shayne Coplan, founder and CEO of Polymarket, added: “PrizePicks has built one of the nation’s most exciting sports communities, and we are excited to help bring prediction markets into that world. As we prepare to return to the US, this partnership shows how prediction markets can enhance fandom while setting a new standard for interactive, regulated sports engagement.”
Competitive Landscape
The prediction markets space has seen increased activity, with notable companies making recent announcements. Trump Media and Technology Group has revealed plans to add prediction markets to its Truth Social platform via a collaboration with Crypto.com. DraftKings also disclosed its acquisition of Railbird Technologies and subsidiary Railbird Exchange to make an entry into the sector.
| Company | Recent Move in Prediction Markets |
|---|---|
| PrizePicks | Announced partnership with Polymarket to offer event contracts |
| Trump Media and Technology Group | Plans to introduce prediction markets on Truth Social through Crypto.com partnership |
| DraftKings | Acquired Railbird Technologies and Railbird Exchange |
- Author
Daniel Williams
