"Major League Soccer announced a multiyear partnership with Polymarket on Monday, the latest in a growing list of sports leagues and teams partnering with prediction markets despite recent scandals and increasing public concerns about the mixture of gambling and sports. The NHL became the first major professional U.S. league to announce a deal with prediction markets in October last year. Prediction markets such as Polymarket and Kalshi allow users to trade on the yes/no outcome of events, including sports."
"Officials of those companies insist they do not offer gambling services but function more like buying and selling shares on a stock exchange. Unlike sportsbooks such as FanDuel and DraftKings, Kalshi and Polymarket can operate in all 50 states, including California and Texas, where sports betting is not legal. Regulation of prediction markets is a hotly contested legal issue. Multiple state gaming regulators have sued Polymarket's competitor, Kalshi, and allege that the company is violating state laws by offering event contracts that mimic sports bets."
Major League Soccer announced a multiyear partnership with Polymarket, joining other leagues that have partnered with prediction markets. Prediction markets like Polymarket and Kalshi let users trade on yes/no outcomes of events and claim they act like stock exchanges rather than sportsbooks. Kalshi and Polymarket can operate nationwide, including states where sports betting is illegal. State regulators have challenged prediction markets legally, suing Kalshi and prompting a Nevada complaint against Polymarket, asserting contracts violate wagering laws. Kalshi maintains it falls under Commodity Futures Trading Commission regulation. Conversations around the partnership began in mid-2025, with maintaining competition integrity prioritized.
Read at ESPN.com
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