Sports Illustrated and Galactic launch new prediction platform: report

Sports Illustrated is launching a new prediction market platform in partnership with the media company based in the United Kingdom Galactic.

The platform, called if predicted, will allow users to place bets on sport-related events without betting on the real results of the games.

If predit works similarly to platforms like Polymarket And Kalshiwhich uses derivative contracts based on blockchain to allow users to bet on future events, according to Bloomberg statement.

Unlike traditional sports books that focus on the results of the game, if predicts will offer markets on adjacent sports aspects, such as stadium attendance, half-time details or other non-scores.

“Sports media are no longer a one -way conversation,” said Galactic CEO Stuart Stott, according to Bloomberg. “Fans want to be involved and they want their opinions to have weight.”

Use of prediction markets blockchain Technology to create transparent and verifiable bets. Instead of betting against a bookmaker, users exchange shares in the result of an event, similar to the functionality of stock markets.

If a prediction turns out to be correct, actions increase in value. If it’s bad, they become worthless.

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If Prédire will be available globally and will respect the regulations of the Authority Conduct Authority of the United Kingdom and the ComboDity Futures Trading Commission. However, as a non-guardian platform, it will not require traditional game licenses.

The launch comes in an increasing interest in the decentralized prediction markets. Since the United States Supreme Court has raised the federal ban on sports betting in 2018, companies like Draftkings and Fanduel have led the online playing space. However, new platforms based on blockchain, such as Polymarket – have gained ground by allowing bets on wider events in the real world.

If Prédire should be launched in the second quarter of 2025, according to Bloomberg.