Kalshi has announced multi-year brand partnerships with five leading Major League Baseball (MLB) teams in its latest sports sponsorship drive.
The Atlanta Braves, Boston Red Sox, LA Dodgers, San Diego Padres and San Francisco Giants have all penned commercial deals with the New York-based platform, Kalshi announced on Tuesday, 25 August.
The prediction market said baseball-related trading volume on its platform had increased by a factor of 36 over the past year.
At the time of writing, Kalshi has more than 500 live baseball markets listed on its platform, including prop bet-style markets on home runs, strikeouts and bases stolen.
Almost $60m has been traded on the winner of the World Series.
The MLB deals are just the latest in a wide range of sport partnerships signed by Kalshi in recent months, including the NHL, ice hockey franchise the Chicago Blackhawks, and Madison Square Garden Entertainment Corp, owners of the eponymous stadium.
Major League Baseball itself is sponsored by rival prediction market platform Polymarket following an agreement in March which was accompanied by an information-sharing venture between the league and the Commodity Futures Trading Commission.
Polymarket has also signed contracts with the MLS and UFC within the past 12 months.
Front Office Sports reported this week that The Athletic was in talks to be sponsored by Kalshi. Some Athletic content featured Kalshi branding during the World Cup.
The New York Times-owned sports news portal previously had a commercial in place with BetMGM.
Commenting on the MLB deals, Adam Barrick, head of sports partnerships at Kalshi, said: “The idea is that fans are already engaging with their favourite teams on Kalshi, so it only makes sense to extend that fandom to some of the most beloved baseball teams in America.”
Kalshi took two legal blows earlier in August, with a Connecticut judge denying it a preliminary injunction and a $36bn suit from the New York attorney general.
Both legislators cited their view that sports-related event contracts are gambling as a factor influencing their decisions. It is an argument that Kalshi denies as it seeks to frame itself as a trading platform.
The post Kalshi strikes sponsorship deals with five MLB teams first appeared on EGR Intel.
Prediction market platform signs multi-year commercial terms with five major baseball franchises amid significant rise in trades related to the sport
The post Kalshi strikes sponsorship deals with five MLB teams first appeared on EGR Intel.