Kalshi app Photo Illustration by Scott Olson/Getty Images The biggest prediction market in the U.S. is teaming up with the biggest TV news channel in the U.S.
Kalshi, the betting platform that lets users put their money on the line to predict the outcome of world events (from elections and sporting events to unemployment rates, Oscar winners and updates in the Iran war), has inked a wide-ranging deal with Fox Corp. that will see its forecasts integrated into Fox News, Fox Business Network, Fox One and Fox Weather.
Kalsi has been aggressive about inking deals with media partners: It has similar arrangements with both CNN and CNBC, with the goal to get Kalshi-branded forecasts and predictions onscreen. Viewers may be tempted to join and trade based on that placement.
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The company frames it as a service, given the information overload most people find themselves in, and the unbiased goal of prediction markets. However, prediction markets are controversial for their abaility to turn essentially anything into a form of betting, with many states arguing that they should be able to set ground rules on that behavior.
That is especially true for sports betting, which is tightly regulated in the states where it is allowed (and where it is barred in many other states… except on prediction markets like Kalshi.
“More people are watching Kalshi’s forecasts than trading them, which says a lot: our data effectively complements news and polls,” said Tarek Mansour, co-founder and CEO of Kalshi, in a statement. “As misinformation grows more common, Kalshi offers accurate, unbiased data to help people better understand what’s going on in the world.”
But media companies have found prediction markets to be an intriguing new source of revenue and data, and with sports so fully embracing gambling sites, news outlets partnering with prediction markets is a logical, if uncomfortable, next step, for many of them.
“Prediction markets have quickly become an essential data point and a compelling new experience across our live content portfolio,” said Paul Cheesbrough, CEO, Tubi Media Group. “By integrating Kalshi’s real-time data into our fast-growing streaming platform Fox One and across Fox News Media’s leading networks, we’re giving audiences both deeper insights and a more engaging way to follow the stories that matter most.”
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