Just days after announcing a deal with Polymarket, PrizePicks has launched prediction markets through a partnership with Kalshi, Polymarket’s main adversary.
Kalshi prediction markets are now available on the PrizePicks app.
The move puts PrizePicks, dominant in the pick ‘em-style DFS space, closer to “sportsbook” territory. In some states, the PrizePicks app now includes “Team Picks”, allowing users to predict the winner of a game, a fight, or season-long futures, rather than just player-based markets.
Depending on the state, three types of play are now available on PrizePicks:
- PLAYERS: Available in 45 states, these are the pick ‘em DFS markets PrizePicks is known for.
- TEAMS: New to PrizePicks, “Team Picks” is available in 15 states, mostly where full mobile sports betting is not legal or is monopolized (see list below).
- CULTURE: Available in 38 states, the “Culture Picks” category includes markets involving crypto, entertainment, music, politics, entertainment, economics, companies, financials and AI.
“Expanding into prediction markets delivers on what our customers want, innovative products with more ways to play,” PrizePicks CEO Mike Ybarra said in today’s press release announcing the Kalshi deal. “Together with Kalshi, we will welcome new customers across many states to the PrizePicks experience.”
Kalshi’s Tarek Mansour, whose company also has distribution deals with Robinhood and Webull, calls the joint venture with PrizePicks “a game-changing moment.”
What About PrizePicks’ Polymarket Partnership?
The PrizePicks/Kalshi news follows the announcement earlier this week that the DFS operator is launching prediction markets in tandem with Polymarket.
While the Polymarket deal is still on, the core components of the arrangements are similar.
“PrizePicks will integrate Polymarket’s event contracts, spanning a wide range of sports, entertainment, and cultural moments,” reads Tuesday’s press release.
PrizePicks will work with multiple DCMs to provide the “best possible experience” for users, a PrizePicks spokesperson told Dustin Gouker in The Event Horizon newsletter.
Teaming up with Kalshi expedites PrizePicks’ prediction markets entry, as Polymarket’s US relaunch is in beta.
It’s not the first time the rivals have partnered with the same entity. Google Finance last week announced deals to integrate both Polymarket and Kalshi data, and last month, the NHL unveiled simultaneous licensing deals with the two companies.
In What States Is PrizePicks Offering Sports Contracts?
Here’s the list of states where PrizePicks’ new Team Picks are being offered.
California, where the legal status of DFS has been clouded by Attorney General Rob Bonta declaring it illegal, is notably absent.
- Hawaii
- Alaska
- Washington
- Oregon
- Idaho
- Montana
- South Dakota
- Nebraska
- Texas
- Oklahoma
- Arkansas
- Mississippi
- Alabama
- Georgia
- South Carolina
