Prediction market rivals Polymarket and Kalshi have both struck partnerships with search engine behemoth Google.
The deals are part of a broader announcement by Google that it is upgrading Google Finance, including adding Deep Search capabilities and corporate earnings tracking, and expanding to India.
While Google says it will be upgrading its Google Finance platform to include the prediction markets’ “data”, Polymarket chooses the term “odds” in its social media posts.
Kalshi CEO Tarek Mansour promises a rollout over the next few weeks.
More validation for prediction markets
News of the Google agreements is further legitimization of prediction markets, even as multiple states claim they are acting illegally in the sports betting space.
But while sports event contracts comprise the bulk of trading volume on Kalshi, it’s clear the value of prediction market extends well beyond sticks and balls.
The predictive power of prediction markets are seen as a major enhancement for Google Finance.
“Prediction markets data from [Kalsh and Polymarket] means you can ask questions about future events to see current probabilities in the market and how they’ve changed over time,” Google product leader Rose Yao writes on X.
In a blog post announcing the deal, Google offers this example:
“Just ask something like ‘What will GDP growth be for 2025?’ directly from the search box to see current probabilities in the market and how they’ve changed over time.”
Lengthening list of dance partners
Google is just the latest corporate giant to partner with prediction markets.
Intercontinental Exchange, the owner of the New York Stock Exchange, announced last month a $2 billion investment in Polymarket. CME Group, another one of the world’s largest financial exchanges, is set to launch a prediction markets platform with FanDuel.
The Google deal isn’t the first simultaneous partnership for Kalshi and Polymarket, the two fiercest competitors on the current prediction markets landscape. Last month, the NHL announced licensing deals with the companies at the same time.
Polymarket is coming
The US market still awaits the return of Polymarket, which was from the blocked from the country in February 2022.
Polymarket has been teasing its re-entry to the States for several weeks, and there have been reports that the government shutdown is delaying it.
The company is certainly positioning itself to make a big impact once it happens.
