Gambling.com Group CEO Charles Gillespie has claimed prediction markets could become a significant part of the affiliate’s business in the coming years.
Speaking on the firm’s Q2 earnings call yesterday, 14 August, Gillespie was asked again for his thoughts on the growing vertical after he touched on it during the Q1 call back in March.
Earlier in the year, the CEO said prediction markets were a “clear, strong positive” for the affiliate as a potential revenue expansion.
Kalshi, Robinhood and Crypto.com are all live with sports event contracts, while Polymarket is due to return to the US after snapping up Commodity Futures Trading Commission-licensed QCEX.
Kalshi remains embroiled in legal battles in Maryland and Nevada, and Brain Quintenz confirmation as Commodity Futures Trading Commission chair has been delayed multiple times.
However, prediction markets are continuing to service US citizens across all 50 states, including those without a form of legalised sports betting.
Gillespie told analysts he expects the legal battle to eventually head to the Supreme Court, before a potentially sector-defining decision is handed down.
He said: “We’ve been spending a lot of time looking at prediction markets. It’s a fascinating category. I really like it. It’s not a big driver of our business yet, but I think it very well could be in a couple of years.
“I think these lawsuits are going to go to the Supreme Court and you’re going to have a PASPA-like decision, which could throw the doors open and really create the next chapter of growth for the whole industry in North America.”
The CEO proceeded to give his thoughts on why consumers are looking to engage with prediction markets, citing the lack of regulation in some states, as well as some jurisdictions only having monopoly models in place.
He added: “When you look at the traditional gaming regulation model, state-based regulators, state-based legislation, I don’t want to say anything bad about these people, and I wouldn’t. These are very serious, hard-working people doing their best to implement the laws that have been created.
“But at the end of the day, the consumer isn’t getting the best deal. And that’s why you still see these offshore sites with meaningful market share.
“But then enter prediction markets. This is a completely new way to regulate this industry. If it is given a proper chance, I think it could be radically more consumer-friendly and be a dramatically better product for end users.”
Elsewhere, Gambling.com Group reported a 30% rise in Q2 revenue alongside penning a potential $30m deal to acquire booking platform Spotlight.Vegas.
The post Gambling.com Group CEO states prediction markets could be a “big driver” of the business first appeared on EGR Intel.
Charles Gillespie suggests a “PASPA-like” decision from the US Supreme Court could open the floodgates for the growing vertical
The post Gambling.com Group CEO states prediction markets could be a “big driver” of the business first appeared on EGR Intel.