:max_bytes(150000):strip_icc()/GettyImages-2216866669-9b4866b304cb4d13a6dcb669d3a53613.jpg "Prediction-Markets Data Is On CNN Now. Expect to See It Just About Everywhere Soon")
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Key Takeaways
- Kalshi’s latest deal follows other partnerships including with Google Finance, the National Hockey League, and Robinhood.
- Other prediction markets, and those interested in developing them have inked deals to make their data more ubiquitous.
Prediction markets are getting more more visible to the masses by the day.
Kalshi recently announced a partnership with CNN that would include integrating its prediction markets data across the national media network’s programming. Certain segments are already showing a scrolling banner detailing the odds of events contracts on the exchange, and the announcement indicates the possibility of many more uses.
Prediction markets have become a hot commodity after the 2024 U.S. presidential election, when Polymarket bettors more accurately predicted the outcome than did many traditional polls. That has beckoned a raft of new players into the mix—including Robinhood (HOOD), Coinbase (COIN) and Trump Media (DJT)—as well as a wave of investment dollars.
Why It Matters to You
Betting has moved from the realm of casinos and sports to public spaces, where anyone can put their money on anything—whether it’s about U.S. central bank policy to how many times Elon Musk will tweet. Prediction markets’ mass appeal is slowly redefining what it means to “trade.”
Competition in prediction markets is heating up. Kalshi has inked deals with Google Finance, the National Hockey League and Robinhood, the latter which is planning to roll out its own exchange. Polymarket is due to return to the U.S. and has drawn an investment from New York Stock Exchange parent company Intercontinental Exchange (ICE). FanDuel has a pact with CME Group (CME) to launch a platform this month.
Lots of money is at stake. “The time has finally come for prediction markets to achieve their full potential and we are intent on making that happen,” Kalshi cofounder and CEO Tarek Mansour said in a social media post on Tuesday. Mansour’s post followed an announcement that the company raised $1 billion in fresh fundraising that set its valuation at $11 billion.
Events contracts would appear to have resonated with the masses, with low buy-ins, simple terms, easy-to-use platforms, and bets on future events people are more familiar with than say, how a public company is doing, or how much gold is worth. (Though Polymarket did, for the record, roll out earnings contracts earlier this year.)
Relaxed regulation on the federal level has helped pave the way, though multiple states and Native American tribes are looking to stem the tide. Some liken events contracts-betting as trading—prediction markets enable participants to bet on future events using derivatives contracts—though others call it illegal gambling. Some analysts believe the matter raises legal questions that could end up with the Supreme Court.
