Sports Illustrated brand enters prediction market space
Media Brand Partners with Galactic to Launch Non-Custodial Betting Platform SI Predict in Q2
Once a titan in the realm of sports media, Sports Illustrated (SI) is reinventing itself within the rapidly evolving landscape of sports betting.
Despite a more competitive and flattened media environment, the SI brand retains significant appeal, as evidenced by its recent announcement of SI Predict—a groundbreaking betting platform developed in collaboration with Galactic. This initiative marks SI’s second foray into the betting space, representing a pivot from traditional betting operations to innovative, non-custodial, exchange-style wagering.
Mirroring platforms like Kalshi, Crypto.com, and Robinhood, SI Predict is set to enable users to place bets directly on sports outcomes without navigating the cumbersome state-by-state licensing requirements typically associated with conventional sports betting. The platform’s design aims to enhance user engagement by leveraging the excitement of live sports events while adhering to Commodity Futures Trading Commission (CFTC) regulations, as noted by Galactic CEO, Stuart Stott, in a recent Bloomberg interview.
Importantly, as a non-custodial platform, SI Predict aims to transcend traditional regulatory hurdles, although its operational structure raises questions regarding the pursuit of a Designated Contract Markets (DCM) license, which would formally classify it as an exchange operator.
Galactic’s Commitment to Innovation
Galactic remains optimistic about leveraging the SI brand’s recognition and credibility as a pathway to market acceptance. Stott emphasized this anticipation in the press release, stating: “Sports viewership is no longer a one-way conversation. Fans want to be involved and they want their opinions to have weight. SI Predict revolutionizes sports engagement, transforming it from passive viewership to an active, influential forum.”
The platform is positioned to deepen fan interactions through features that allow engagement with lifestyle moments surrounding live sports events, thereby enriching the overall viewer experience.
Set to launch in the second quarter of this year, SI Predict signifies a forward-thinking move that reflects current trends in the gambling industry, where engagement and user experience are paramount.
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