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Polymarket also has marketing deals with Major League Baseball (MLB), Major League Soccer (MLS), the NHL and UFC.
While the Polymarket/Yahoo Finance situation is one of the earliest examples of a severed relationship between a prediction market operator and a media entity, that doesn’t mean those “divorces” will permeate the two industries.
There’s widespread belief that old guard media companies are incentivized to feature event contract data on their sites or reference it in select publications as a way of better connecting with younger readers and viewers.
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Christian Cipollini, senior trading manager at BetMGM, noted that heading into Sunday’s games, sportsbooks needed key underdog covers to offset a strong Week 1 for public bettors. Getting outcomes from the Browns, Saints, Titans, or Dolphins provided much-needed relief to the house.
In the end, Week 1 and Week 2 could hardly have been more different, said Joey Feazel, head of football at Caesars Sportsbook.
The book enjoyed a steady diet of low-scoring primetime games in Week 1, but Week 2 began with an all-you-can-eat touchdown buffet for bettors on Thursday night,” Feazel said. “Seven of the eight most popular touchdown scorers cashed, and the only player who failed to score, DJ Moore, was refunded under Injury Protection.”
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With all activity, beyond just football, Crypto.com recorded trading volume of $350 million for the week, figures from The PM Pulse show. The newsletter, which is in partnership with Aldrin Research for monitoring industry trends, indicated that Crypto saw weekly growth of 41%. While Kalshi and Polymarket accounted for more than $15 billion in weekly volume, four others recorded activity of at least $300 million. Buoyed by a popular Sydney Sweeney ad, Novig increased volume by nearly 34% on the week.
Moving forward, prediction markets could see a bump from appearances by several high-profile teams in primetime during Week 2. On Thursday, the Buffalo Bills will make their regular-season debut at Highmark Stadium against the Detroit Lions. Enthusiasm among supporters of the “Bills Mafia” for the opening of the $2.2 billion stadium could pad weekly totals on prediction markets. New York is one of the nation’s largest markets for sports betting and predictions.
The week will conclude with a matchup on Monday Night Football between the New York Giants and the Los Angeles Rams, the putative Super Bowl favourite. On Kalshi, the Rams had a 75% probability to defeat the Giants as of Wednesday afternoon.
