PrizePicks Launches Prediction Markets Through New Kalshi Partnership

• PrizePicks today launched prediction market contracts through a new partnership with Kalshi
• The company previously announced a partnership with Polymarket, which has yet to launch in the U.S.
• PrizePicks launched its prediction contracts in 38 states and Washington, D.C.

PrizePicks today launched its prediction market offerings through its subsidiary, Performance Predictions II, a federally approved futures commission merchant, and announced a new mutli-year partnership with Kalshi.

The new PrizePicks’ prediction market contracts are now available in 38 states, plus Washington, D.C., and include event contracts for sports, entertainment, and pop culture directly in the PrizePicks app. All of Kalshi’s prediction market contracts are available now through the partnership with PrizePicks.

“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 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.”

Prediction Market Contracts Now Available

Customers on PrizePicks are now able to purchase Kalshi prediction market contracts on a wide variety of sports and culture on affiliate Designed Contract Markets.

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

At launch, PrizePicks will offer team picks and/or culture picks across 38 states and Washington, D.C.

PolyMarket Partnership Will Remain

Surprisingly, Kalshi today announced a new multi-year partnership with Kalshi after recently announcing a partnership with Polymarket. Polymarket has yet to launch its prediction markets in the U.S.

The Polymarket partnership still remains in place despite PrizePicks’ new partnership with Kalshi.

“PrizePicks has built one of the nation’s most exciting sports communities, and we are excited to help bring prediction markets into that world,” said Shayne Coplan, Founder and CEO of Polymarket, earlier this week in the announcement. “As we prepare to return to the U.S., this partnership shows how prediction markets can enhance fandom while setting a new standard for interactive, regulated sports engagement.”

Polymarket has not been available to U.S. customers since 2022, when the CFTC fined the predictions market company $1.4 million for operating an illegal, unregistered or non-designated facility for event-based binary options online trading contracts, or “event markets.”

In addition to the fine, the CFTC issued a cease-and-desist to Polymarket for violating the Commodity Exchange Act and CFTC regulations.

The CFTC declared Polymarket had been operating an illegal, unregistered facility offering event market contracts since 2020.