PrizePicks announces the launch of prediction markets with Polymarket
The operator will integrate Polymarket’s event contracts.
US.- The daily fantasy sports operator PrizePicks has announced a multi-year partnership with Polymarket to allow the purchase of event contracts on the company’s soon-to-launch predictions markets offering.
PrizePicks recently became the first sports entertainment operator to be registered as a Futures Commission Merchant (FCM) by the National Futures Association (NFA), enabling the firm to offer CFTC-permitted derivatives contracts through partnerships with federally regulated exchanges.
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.”
Trump Media and Technology Group recently announced plans to introduce prediction markets on its social media platform Truth Social through a partnership with Crypto.com. Meanwhile, DraftKings announced the acquisition of Railbird Technologies and its subsidiary Railbird Exchange to enter into the prediction markets space.
