• Sports Illustrated has thrown its hat in the prediction market rink
• SI Predict will focus on alternative selections about athletic contests
• The platform is seeking to launch globally and will appear in Q2 2025

Prediction markets have long been fascinating consumers and, begrudgingly, mainstream sportsbooks. After all, DraftKings has recently applied for a license to launch its own prediction platform, despite previously voicing concerns over the regulatory framework of prediction markets.

SI Predict seeks to break into a promising space following sportsbook misfire

Now, Sports Illustrated is developing a prediction platform of its own, SI Predict, in partnership with UK-based media firm Galactic, according to an original Bloomberg report shared by multiple media outlets.

Yet, SI Predict is hoping to offer consumers something that will differentiate its offer outright and help it gain traction with sports fans in a market where Kalshi and Robinhood are already present and others still are readying their own forays into the sector.

SI Predict will seek to offer users the opportunity to back an outcome based on athletic events, which will exclude the outcomes of the games. So, in theory, this should mean that you won’t be able to "wager," for want of a better word, on what team may win.

SI Predict is also looking to not limit itself to the local market in the United States but seek a global launch and presence. This comes with its own challenges. Polymarket, a contract-based platform, has faced pushback in France and Singapore, and the platform is currently not legal in the United States, although rumor is that may change under the new administration.

The Bloomberg report has also been born out by an official statement by Sports Illustrated and Galactic, which said that their platform seeks to offer "simplified engagement" for sports fans, focusing on "peripheral aspects" of athletic events.

The new platform will be launched in the second quarter of the year and should offer consumers enough opportunities to have more skin in the game, galvanizing a user base of people who are keen to lean into their knowledge of a certain sport and exploit it in the fullest.

Prediction markets – a fallback for failed sportsbook ventures?

Sports Illustrated previously tried to enter the traditional sports betting space but was forced to wind down. Prediction markets, though, may prove a new and exciting space for these companies to exploit and tap into the growing interest in sports betting.

But are prediction markets a fallback solution for failed sports betting projects? The prediction market vertical is emerging as an ever-more tempting opportunity for companies to explore. Robinhood’s trading volume hit $250m in two rounds of March Madness, demonstrating the potential of even freshly set-up projects.

For reference, Robinhood and Kalshi teamed up to launch prediction markets for the competition a week prior to the competition itself.

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