PrizePicks eyes prediction market expansion via Polymarket deal

• Polymarket and PrizePicks signed a new partnership
• The former agreed to supply its events contracts, powering PrizePicks' platform
• Executives at the two companies share their excitement about the new alliance

The leading sports entertainment operator in the United States, PrizePicks, joined forces with the world's largest prediction market, Polymarket.

Announced earlier this week, the strategic collaboration will see the former integrate events contracts provided by the latter, expanding its offering to customers across the country.

PrizePicks to grow platform with events contracts

Teaming up with Polymarket, PrizePicks will facilitate the purchase of events contracts within its soon-to-launch predictions market offering.

This strategic alliance is expected to grow the market share of the leading sports entertainment operator in North America.

At the same time, PrizePicks will enhance and expand its product offering with the addition of engaging prediction markets.

This, in turn, will deliver unique experiences to PrizePicks' growing customer base.

Currently, PrizePicks is the only sports entertainment operator registered by the National Futures Association as a Futures Commission Merchant.

This important registration permits the company to offer CFTC-permitted derivatives contracts via agreements with federally regulated exchanges such as Polymarket.

Ultimately, the registration as a Futures Commission Merchant seeks to ensure that PrizePicks offers its customers safe, secure and legally compliant access to such financial transactions.

The agreement with Polymarket comes on the heels of another major announcement by PrizePicks.

Earlier this year, the company confirmed it successfully obtained iCAP accreditation from the National Council on Problem Gambling.

Polymarket is delighted to provide PrizePicks with prediction markets

Shayne Coplan, Polymarket's Founder and CEO, spoke with excitement about the agreement with PrizePicks, Casino Guru News learned from a press release.

"PrizePicks has built one of the nation's most exciting sports communities, and we are excited to help bring prediction markets into that world," he explained.

Finally, Coplan pointed out: "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."

Mike Ybarra, PrizePicks' CEO, was similarly delighted.

"As the No. 1 daily fantasy sports operator in the U.S., PrizePicks is thrilled to partner with Polymarket, a trailblazer in the prediction space, to open up new experiences for our millions of existing members and introduce our platform to millions of new customers," he added.

Ybarra explained that PrizePicks' entry into the US predictions market will "create greater competition, drive innovation and deliver even more value directly to members."

Finally, the executive acknowledged that Polymarket and PrizePicks will both focus on delivering exceptional experiences through innovative and engaging products.

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