Another Sports Betting Powerhouse Is Getting Into Prediction Markets

Powerhouse Prizepicks in the field of sports betting enters the game market after just landing a futures commission trader or FCM license from National Futures Association.

As a result, the company is the first sports entertainment operator to receive FCM from NFA, allowing it to list contracts from licensed prediction markets. It also makes at least the second main company for sports betting next to Fanduel enter the market with the prediction of red hot predictions that analysts estimate could achieve $ 95 billion by 2035. Competitive sports book Draftkings also said Examine jumping to the markets of predictions, but must still confirm these intentions.

The new prizepicks license also represents an expansion of the European lottery giant Allwyn International to the US market. At the beginning of the week the company gained a 62.3% share in the DFS operator in an agreement worth $ 1.6 billion.

Allwyn is a global lottery operator and manages the British National Lottery. In fact, the company had little support in the US before the agreement was completed.

“For Allwyn, the transaction is a unique opportunity to enter the strategically important sports and entertainment industry in the United States and expands its business in the country outside the existing Illinois lottery,” the company said in a press release.

Prizepicks offers its real money, peer-to-peer game in 35 states and Washington, DC

Daily Fantasy Sports specializes in “pick em” competitions. Instead of developing the whole team and competing against other bettors, users are doing betting on Parlay to see if the athlete goes or under the status-like, how many Kansas City Chiefs Quarterbacks Patrick Mahomes get into a particular game.

“The honor to be the first platform of sports entertainment to receive FCM registration from NFA is a testimony to our programs for compliance with the regulations and protection of consumer, which NFA and CFTC require,” said Mike Ybarra, CEO of Prizepicks, and and Press release.

Prizepickicks Speckspon said Unscramble The company has “nothing specific that could be shared,” prediction markets offer its users.

The FCM Prizepicks grants permit to offer prediction markets by connecting to a company that has a specified contractual market or DCM, a license. The List DMC holders Last year it has grown significantly and includes the two largest prediction operators: Kalshi and polymarket.

The company can present and clean its own prediction contracts only with DCM, but not with FCM. This allows companies to act as third -party brokers for the prediction market platform. For example, Robinhood is capable of Offer Kalshi Prediction Markets His users, because his derivative arm keeps the FCM license.

Sports on the market with sports books and prediction market companies are racing to obtain such licenses from CFTC to legally enter the US market, which is still dominated by Kalshi. Only last week Kalshi reported to hit $ 1 billion in the monthly volume From his markets, when he skipped a polymarket in a global market share in this industry.