Even though prediction markets are not officially sports betting platforms, it seems like that doesn’t stop them from forming partnerships with sports leagues in the US.
Major League Soccer (MLS) has partnered with Polymarket, making the prediction market platform the official league partner.
It is not the first time we hear something like this, with the NHL already entering a similar deal with Kalshi and Polymarket.
What Makes Prediction Markets So Attractive?
Prediction markets platforms, unlike sports betting sites, are legal in all US states, and most of these companies are allowed to conduct business in all of them. Polymarket is not one of them, and there are still controversies around sports markets, as predictions resemble sports betting.
However, they remain legal to this day.
The MLS and Polymarket deal will give customers access to markets around MLS league matches, the MLS All-Star Game, the MLS Cup, and the Leagues Cup. They will be able to predict the outcome of all MLS-related matches with access to data-driven markets.
What the Partnership Brings
Apart from the futures market prediction, the collaboration will also focus on live markets and actions related to real-time match developments. Leveraging the data-driven approach will allow users to know the overall sentiment around the match before they make their prediction.
Shayne Coplan, Founder and CEO of Polymarket, spoke about the new arrangement:
Through our partnership with MLS and Leagues Cup, we can surface real-time collective sentiment around key moments, matches, and season-long storylines.
"This will give fans a more interactive, data-driven way to experience the game and engage with the world’s most popular sport,” Coplan concluded.
