PrizePicks launches prediction markets through new partnership with Kalshi

 
 

PrizePicks has announced a multi-year partnership with Kalshi, which it calls the largest prediction market in the world. It also introduced a new prediction markets feature through its subsidiary, Performance Predictions II, a federally approved Futures Commission Merchant.

This comes just days after PrizePicks revealed another multi-year deal with Polymarket that will let the company offer event contracts through Polymarket’s upcoming prediction platform. Both companies say this integration will let PrizePicks users tap into sports, entertainment and cultural markets right inside the PrizePicks app.

In the newest update, PrizePicks says customers can now make predictions on outcomes across sports, entertainment and pop culture using Kalshi’s library of event contracts. Every event contract available on PrizePicks comes from Kalshi markets.

PrizePicks and Kalshi partnership ‘a game-changing moment’

“Expanding into prediction markets delivers on what our customers want, innovative products with more ways to play,” said Mike Ybarra, CEO of PrizePicks in a press release. “Together with Kalshi, we will welcome new customers across many states to the PrizePicks experience, and we couldn’t be more excited about the opportunity ahead in this fast-growing space.”

Kalshi co-founder and CEO Tarek Mansour said the integration represents an important milestone for the prediction market company. “As of today, people will be able to access Kalshi’s prediction markets within the PrizePicks app,” Mansour said. “This is a game-changing moment, and we’re excited to be the first to fuel and supercharge the PrizePicks fan experience.”

PrizePicks says the new feature lets customers make predictions by buying contracts on a wide range of sports and cultural events through affiliated Designated Contract Markets. At launch, Team Picks and Culture Picks will be available in 38 states and Washington, D.C.

Team Picks will let users predict the winners of games, fights, matches and other sports outcomes. They will also be able to make season-long calls like win totals, playoff chances and championship winners.

Culture Picks will take things outside the sports world, covering music, movies, politics and other cultural moments. The company says fans will be able to predict outcomes like Best Picture, Album of the Year and even upcoming elections.

Featured image: PrizePicks

The post PrizePicks launches prediction markets through new partnership with Kalshi appeared first on ReadWrite.

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Suswati Basu is a multilingual, award-winning editor and the founder of the intersectional literature channel, How To Be Books. She was shortlisted for the Guardian Mary Stott Prize and longlisted for the Guardian International Development Journalism Award. With 18 years of experience in the media industry, Suswati has held significant roles such as head of audience and deputy editor for NationalWorld news, digital editor for Channel 4 News and ITV News. She has also contributed to the Guardian and received training at the BBC As an audience, trends, and SEO specialist, she has participated in panel events alongside Google. Her…

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