PrizePicks and Polymarket are teaming up to launch a new prediction markets platform.
The news follows an announcement by PrizePicks in September that its Performance Predictions II subsidiary has secured registration as a Futures Commission Merchant (FCM) by the National Futures Association (NFA), allowing the DFS operator to facilitate trades on futures contracts offered CFTC-regulated Designated Contract Markets.
The partnership will see Polymarket’s event contracts integrated onto PrizePicks app. The offerings will go beyond sports, according to the press release, which also mentions “entertainment and cultural moments”.
The launch will have to wait for Polymarket’s US re-entry, but that seems imminent, especially with the end of the government shutdown in sight.
“As Polymarket prepares for its anticipated re-entry into the U.S. market,” the press release says, “this collaboration further strengthens its mission to make prediction markets accessible and trusted at a global scale.”
Partnerships Expanding Quickly Across the US
The PrizePicks/Polymarket tie-up is the most recent in a lengthening list of deals as sports betting companies seek a slice of the prediction markets pie.
Underdog, a major competitor of PrizePicks in the fantasy pick ‘em space, partners with Crypto.com to offer sports event contracts in 16 states.
Last week, DraftKings, fresh off its acquisition of CFTC-approved Railbird Exchange, unveiled plans to launch a prediction markets platform that will include sports event contracts.
FanDuel, meanwhile, is teaming up with CME Group, but both partners maintain they need the right regulatory environment to move forward with sports event contracts.
