UFC and Polymarket: A New Era of Fan Interaction
The UFC’s parent company has announced a multi-year partnership with Polymarket, marking a milestone in the expansion of prediction markets in the American sports arena. This agreement promises a renewed experience for fans, integrating the dynamics of these markets into live broadcasts. Prediction markets, such as Polymarket and Kalshi, allow users to speculate on the outcome of events, including sports competitions. Unlike traditional bookmakers, these markets can operate in all 50 U.S. states, even in those where sports betting is illegal. Polymarket, currently available globally, is preparing for its official launch in the United States in the coming months. The UFC will incorporate Polymarket odds into its live broadcasts and will show market activity during the fights, through a “fan prediction scoreboard”.Shayne Coplan, founder and CEO of Polymarket, highlighted the possibility of buying and selling, of operating as in the stock market, during the course of the fights. This, according to Coplan, could generate a new behavior among users and an innovative way of participation. The NHL was the first American professional league to announce an agreement with prediction markets. The regulation of these markets is a controversial legal issue. Several state gaming regulators have sued Kalshi, a competitor of Polymarket, alleging violations of state laws for offering event contracts that simulate sports betting. Kalshi argues that it is not under state jurisdiction and is regulated by the Commodity Futures Trading Commission, a federal agency. FanDuel and DraftKings, after observing the growth of prediction markets, announced that they will launch their own platforms, including contracts on sporting events, in the coming months. This association with the UFC comes after accusations of match-fixing in the featherweight fight between Isaac Dulgarian and Yadier del Valle on November 1st, due to suspicious betting activities. The UFC has terminated Dulgarian’s contract and is collaborating with the FBI in an investigation into this unusual betting activity.By partnering with Shayne and his team at Polymarket, we are opening a new dimension of interaction for fans.
Ari Emanuel, CEO of TKO, parent company of UFC
