PrizePicks launches prediction markets in multi-year partnership with Kalshi

Sports entertainment operator PrizePicks has launched a prediction markets offering inside its app through a partnership with Kalshi, marking its first major expansion beyond fantasy sports into federally regulated event contracts.

The product, delivered via PrizePicks’ subsidiary Performance Predictions II, LLC, a Futures Commission Merchant approved by the National Futures Association, will allow customers to make predictions on outcomes across sports, entertainment and pop culture. All markets available on PrizePicks will be Kalshi-listed event contracts.

“Expanding into prediction markets delivers on what our customers want, innovative products with more ways to play,” PrizePicks CEO Mike Ybarra said. “Together with Kalshi, we will welcome new customers across many states to the PrizePicks experience, and we couldn't be more excited about the opportunity ahead in this fast-growing space.”

Kalshi co-founder and CEO Tarek Mansour said: "As of today, people will be able to access Kalshi's prediction markets within the PrizePicks app. This is a game-changing moment, and we're excited to be the first to fuel and supercharge the PrizePicks fan experience."

At launch, the platform will offer “Team Picks” and “Culture Picks” in 38 U.S. states and Washington, D.C. Team Picks will enable customers to predict winners of games, fights, and season-long outcomes, while Culture Picks will introduce markets on major awards shows, music, movies, political events and other cultural storylines.

PrizePicks’ registration as an FCM earlier this year allows it to offer prediction markets through designated contract markets under federal oversight. The company said customers will have access to responsible gaming tools, including financial limits, timeouts, and voluntary self-exclusion, along with mental health resources through Kindbridge Behavioral Health.

PrizePicks, the first fantasy sports operator to earn iCAP accreditation from the National Council on Problem Gambling, said it will continue to prioritise compliance and consumer protections as it expands its national footprint.