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Sports Illustrated is launching a new prediction market platform in partnership with U.K.-based media firm Galactic.
The platform, called SI Predict, will allow users to place bets on sports-related events without wagering on the actual outcomes of games.
SI Predict operates similarly to platforms like Polymarket and Kalshi, which use blockchain-based derivatives contracts to let users bet on future events, according to Bloomberg reporting.
Unlike traditional sportsbooks that focus on game results, SI Predict will offer markets on adjacent aspects of sports, such as stadium attendance, halftime show details, or other non-score-based outcomes.
“Sports media is no longer a one-way conversation,” said Galactic CEO Stuart Stott according to Bloomberg. “Fans want to be involved, and they want their opinions to have weight.”
Prediction markets use blockchain technology to create transparent and verifiable wagers. Instead of betting against a bookmaker, users trade shares in the outcome of an event, similar to how stock markets work.
If a prediction turns out to be correct, the shares increase in value. If it’s wrong, they become worthless.
Online betting
SI Predict will be available globally and will comply with regulations from the UK’s Financial Conduct Authority and the US Commodity Futures Trading Commission. However, as a non-custodial platform, it will not require traditional gambling licenses.
The launch comes amid growing interest in decentralized prediction markets. Since the U.S. Supreme Court lifted the federal ban on sports betting in 2018, companies like DraftKings and FanDuel have led the online gambling space. However, newer blockchain-based platforms—such as Polymarket—have gained traction by enabling bets on broader real-world events.
SI Predict is set to launch in the second quarter of 2025, according to Bloomberg.