ProphetX bolsters footprint via Pikkit alliance

• Pikkit and ProphetX put pen to paper on a new agreement
• Per the alliance, the Pikkit community will access federally regulated sports prediction markets by ProphetX
• Executives at ProphetX and Pikkit comment on the topic

America's first sports-native prediction market, ProphetX, teams up with the leading tracking and social analytics platform used by sports fans, Pikkit, to deliver federally regulated sports prediction markets to the Pikkit community.

Pikkit community taps into sports prediction markets

Currently, hundreds of thousands of sports fans use Pikkit to analyze, sync, and compare data from more than 30 platforms and daily fantasy sites.

Thanks to the alliance with ProphetX, the Pikkit community will access the former's prediction market exchange.

ProphetX operates as a true exchange offering a two-sided marketplace where sellers and buyers determine the prices and trades are executed via CFTC-regulated derivatives contracts.

Unlike traditional sportsbooks, the market sets the price, not the house.

Per the agreement, prediction market trading will be completed via an integration with Pikkit and become available to eligible users in applicable U.S. jurisdictions.

Initially, prediction markets will cover popular professional sports like the NBA, NFL and international soccer.

According to a press release by ProphetX, further contracts are expected to be delivered on a rolling basis.

The federally regulated, exchange-based platform will reach new audiences

Pranav Tadikonda, Pikkit's Co-Founder and CEO, spoke about the importance of the new collaboration.

"Our users are already doing the work — tracking their trades and comparing venues to find the best price," the executive explained.

Finally, Tadikonda pointed out: "Prediction markets are the logical next step for a community this data-driven. ProphetX gives us a regulated, exchange-based way to put that analysis to work, and we're excited to bring it to the traders who've made Pikkit their home base."

Jake Benzaquen, ProphetX's Co-Founder and Chief Commercial Officer, was similarly excited.

He acknowledged that the Pikkit community consists of some of the most engaged traders in the country, adding that ProphetX's platform perfectly fits their requirements.

"Partnering with Pikkit gives that community direct access to a federal exchange where the crowd sets the price and every participant competes on a level playing field, instead of against the house," Benzaquen said in conclusion.

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