Prediction platform Polymarket has been on a partnership spree — a trend that continued this week, with a new deal involving Major League Baseball.
MLB announced Thursday that Polymarket would be its official prediction market partner, a designation that will allow the site to gain exclusive access to official league data as well as to use MLB logos in its products. The site will also receive “brand exposure” at games and through the league’s digital channels, the announcement notes.
At the same time, MLB also signed a memo of understanding with Commodity Futures Trading Commission Chairman Michael Selig. The memo states that the agency, which is tasked with overseeing prediction market sites, and the league will share information with one another related to baseball and prediction markets.
Previously, MLB officials had expressed concern for how prediction markets might impact sports audiences. In a letter to the CFTC sent last year, the league noted the need for an integrity framework that could regulate how prediction markets impact the game. MLB officials have framed the new Polymarket partnership as a way to ensure the enforcement of such integrity standards.
Once banned from operation in the U.S., Polymarket has been on a hot streak ever since September, when the CFTC eased previous regulatory roadblocks allowing the company to operate stateside. Since then, the company has announced major data partnerships tech giants like Google and Palantir, as well as sports partnerships with like Major League Soccer and Major League Hockey, and media companies.
Source: techcrunch.com
