Sports activities Illustrated is venturing into the world of prediction markets with the launch of a brand new platform, SI Predict, in partnership with the UK-based digital advertising and marketing firm Galactic. The revolutionary platform will permit customers to position bets on varied elements associated to sports activities occasions—although with a major distinction: it received’t contain betting on the result of video games. As an alternative, SI Predict will deal with markets corresponding to predicting halftime performances, sport attendance, and different non-outcome-based occasions, making it distinct from conventional sports activities betting platforms.
SI Predict: a brand new period for fan engagement:
The first objective of SI Predict is to encourage lively participation, discussions, and fan engagement by providing a distinctive type of betting that doesn’t depend on the unpredictability of sport outcomes. The platform’s creators hope to offer an outlet for customers to showcase their sports activities experience in a much less advanced atmosphere than conventional playing, thereby broadening the attraction of sports activities betting to a wider viewers. In response to the businesses concerned, the platform will foster “dialog, debate, and engagement.”
“Sports activities media is not a one-way dialog,” mentioned Galactic CEO Stuart Stott, as reported by Bloomberg. “Followers need to be concerned, they usually need their opinions to have weight.” This ethos is central to SI Predict’s mission because it strikes to create an interactive platform the place followers could make predictions on components like which track a halftime performer will sing or how many individuals will attend a specific sport.
As SI Predict plans its international rollout in Q2 2025, the platform’s launch will rely on regulatory approvals in varied jurisdictions. Regardless of its revolutionary method, SI Predict is conscious of the necessity to adjust to stringent rules. The platform will adhere to the foundations set by the UK’s Monetary Conduct Authority and the U.S. Commodity Futures Buying and selling Fee (CFTC), each of which oversee prediction markets and derivatives. Nevertheless, SI Predict’s construction as a non-custodial platform signifies that it might not must be topic to the identical rules as conventional sportsbooks.
Stott famous, “As a non-custodial platform, it doesn’t must be regulated,” whereas additionally emphasizing that SI Predict’s occasions will probably be centered on by-product contracts, or what are akin to futures markets. These contracts permit customers to make predictions on sports-related occasions, which don’t instantly relate to the sport’s final result however deal with ancillary occasions surrounding the video games.
The rising prediction market panorama:
SI Predict enters an more and more aggressive area of prediction markets, which has seen important curiosity in recent times. Platforms like Kalshi and Polymarket, in addition to main monetary firms like Robinhood, have launched related merchandise that permit customers to wager on non-traditional outcomes associated to occasions like sports activities, politics, and even leisure.
Within the U.S., regulatory our bodies such because the CFTC have scrutinized these platforms, particularly as they enter the sports activities area. The CFTC just lately hosted roundtable discussions concerning the regulation of occasion contracts, which embrace predictions on sporting occasions’ non-game-related components. This consideration is as a result of growing demand for such markets, particularly with the U.S. Supreme Courtroom’s 2018 ruling lifting the federal ban on sports activities betting.
Main entities like Main League Baseball (MLB) have expressed issues concerning the integrity of those markets, notably as they aren’t topic to the identical regulatory scrutiny as conventional sportsbooks. The MLB has urged the CFTC to ascertain an “integrity framework” for prediction markets to forestall knowledge manipulation and make sure the equity of those occasions.
The introduction of SI Predict marks Sports activities Illustrated’s return to the sports activities betting sector following the closure of its earlier enterprise, SI Sportsbook and On line casino, in partnership with 888 Holdings. That partnership ended when 888 determined to half methods with Genuine Manufacturers Group, the father or mother firm of Sports activities Illustrated, following a strategic evaluation of its U.S. operations. 888 agreed to a $25 million termination charge, signaling the top of SI Sportsbook’s operations within the U.S.
Regardless of this exit, Sports activities Illustrated’s new enterprise with Galactic highlights the model’s continued curiosity within the broader sports activities gaming panorama. As sports activities betting continues to evolve, SI Predict represents a forward-thinking method that would redefine how followers have interaction with sports activities occasions and prediction markets alike.
