Major fantasy sports operator enters prediction markets with Polymarket

PrizePicks, one of North America’s largest daily fantasy sports operators, has partnered with Polymarket to expand into the prediction-markets space — a move that could open new revenue streams beyond its core fantasy sports business.

The partnership will integrate Polymarket’s event contracts directly into the PrizePicks app, allowing users to make predictions on outcomes spanning sports, entertainment and cultural events, the companies disclosed Tuesday

Polymarket founder and CEO Shayne Coplan said the collaboration could attract millions of PrizePicks users to the emerging prediction-markets ecosystem.

Both companies said the rollout will coincide with Polymarket’s re-entry to the United States, signaling a renewed push to bring regulated prediction trading to American users.

For PrizePicks, the move represents a strategic expansion beyond daily fantasy contests, positioning the company to diversify engagement and stand out in an increasingly competitive sports gaming landscape.

Polymarket leads the prediction-market space in terms of volume and total markets. Source: Polymarket AnalyticsPolymarket stands out in the event-outcome prediction space for its decentralized design, built on the Polygon blockchain, which allows markets to operate transparently and without a central intermediary

The platform gained prominence during the 2024 US presidential election cycle, when its trading activity and market odds correctly anticipated Donald Trump’s return to the White House well before traditional polls reflected the shift.

Related: Polymarket eyes $10B valuation as CFTC clears path to US return

Prediction market growth comes under scrutiny

Polymarket’s rapid rise has not been without controversy. A recent academic paper by researchers at Columbia University found that up to 60% of the platform’s trading volume may have been artificially inflated, primarily through wash trading — a practice in which the same entity repeatedly buys and sells an asset to create the illusion of market activity and liquidity.

The researchers said they detected extensive wash trading on Polymarket starting in July 2024, indicating that much of the observed growth in trading volume may not have reflected genuine market participation.

Cointelegraph reached out to Polymarket for comment but had not received a response at time of publication.

Wash trading allegations are not unique to prediction or betting markets — similar practices have been documented across the broader decentralized finance (DeFi) ecosystem. A 2023 report by Solidus Labs identified extensive instances of wash trading on several decentralized exchanges

Source: Dan SmithMore recently, reports from traders and analysts have pointed to a rise in suspected wash trading on Solana decentralized exchanges.

Related: Kalshi hires crypto influencer John Wang to lead digital assets arm

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