• PrizePicks will feature Polymarket event contracts on its mobile app
• PrizePicks expected to soon launch its prediction markets platform

Prediction markets behemoth Polymarket and PrizePicks, one of the top daily fantasy sports (DFS) operators, announced a partnership Tuesday through which the former will bring event contracts to the latter’s upcoming mobile application.

A PrizePicks logo. The company announced a prediction markets deal with Polymarket. (Image: Sporting News)

Financial terms of the agreement weren’t revealed, but the accord is described as “multiyear.” The news arrives as Polymarket is preparing to relaunch in the US — a process that could be expedited now that the longest government shutdown in history is ending.

Through the partnership, PrizePicks will integrate Polymarket’s event contracts, spanning a wide range of sports, entertainment, and cultural moments, giving fans a new, dynamic way to engage with the world around them via the PrizePicks app,” according to a statement issued by the two closely held companies. “As Polymarket prepares for its anticipated re-entry into the U.S. market, this collaboration further strengthens its mission to make prediction markets accessible and trusted at a global scale.”

Reports surfaced in August that PrizePicks was eyeing entry to prediction markets. The company hasn’t announced an official launch date for its related mobile app, but it’s believed that will occur over the near term.

Why Polymarket, PrizePicks Deal is Significant

News of the Polymarket/PrizePicks deal arrives less than two months after lottery operator Allwyn bought 62.3% of the DFS firm for $1.6 billion in cash, implying an enterprise value of $2.5 billion. It’s rumored that part of Allwyn’s attraction was PrizePicks’ potential event contracts inroads.

With PrizePicks, Polymarket gains a partner with significant reach in North America. PrizePicks reportedly has north of three million registered users and over one million monthly active users.

For its part, PrizePicks has largely abandoned the against-the-house model. The company, which says it’s the largest DFS firm in North America, currently offers player vs. house DFS in just three states — North Carolina, Texas, and Virginia.

Polymarket Making Moves

In recent months, Polymarket has been an active generator of headlines, including news that Intercontinental Exchange (NYSE: ICE) took a $2 billion stake in the firm, valuing it $9 billion to $10 billion. Last week, reports emerged indicating that when it returns to the US, Polymarket will undercut rival Kalshi on transaction costs incurred by traders.

Polymarket, which bills itself as the world’s largest prediction market, and Kalshi also recently unveiled deals with the NHL and integration onto the heavily trafficked Google Finance platform.

There’s also chatter indicating Polymarket’s next financing round could push its valuation to $12 billion to $15 billion — a massive increase from the $1 billion it was valued at in June.

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