Google Finance to Integrate Prediction Markets
Financial data provider Google Finance is to integrate information from prediction market platforms into its ecosystem, in the latest example of the rapid expansion of the prediction market sector.
Google will partner with two of the best-known companies in the sector, Kalshi Inc. and Polymarket. The deal will enable Google Finance to display odds from these exchanges when users research future events, covering topics ranging from economic data to weather forecasts.
After facing criticism and increased pressure from regulators who claim the markets are gambling, the incorporation with Google will help the companies legitimize their products. Both exchanges have seen record trading volumes, primarily driven by sports prediction markets that operate under federal regulation despite legal resistance from some state gaming authorities.
Beyond sports, these platforms have hosted significant trading around elections, with odds cited by news outlets for their real-time updates.
In announcing the integration, Google highlighted that it would enable users to benefit from the ‘wisdom of the crowd’ effect. Some analysts have also noted that it represents a blending of speculative and information markets, as prediction data is now a key source for weighing up political or economic risk.
NHL Strikes First-Ever Deal with Prediction Markets
Kalshi and Polymarket have also received a boost from a different source, thanks to a multiyear licensing agreement with the NHL. This will be the first time that a major US sports league has collaborated with prediction market platforms.
The Chief Executive Officer at Kalshi, Tarek Mansour, commented on the significance of the deal that could be followed by other sports agreements,
“A league like the NHL partnering with us is a strong sign that prediction markets are here to stay.”
The NHL said the partnership would allow it to explore new ways to engage with fans and potential fans outside the traditional areas of support.
Nevertheless, the deal has drawn criticism. The American Gaming Association warned that the platforms don’t comply with essential regulatory standards and are offering sports betting across all 50 states, including those that restrict legal gambling to those 21 and older. The result is that several states are embroiled in legal disputes with prediction markets, particularly Kalshi, providing a turbulent backdrop.
Another major league, the NFL, has previously voiced concerns about prediction markets and regulation, although the NBA and MLB have so far not commented.
Speaking about the ongoing controversy and legal battles, Tarek Mansour acknowledged that the business model has faced intense scrutiny but claimed this is part of the challenge faced by disruptors, and stressed that Kalshi has worked hard with federal regulators to maintain customer protections and market integrity.
Despite the legal challenges, the NHL partnership underscores growing mainstream acceptance of prediction markets and heralds a potential expansion into other sports over the next few months.
