Polymarket has named former Fanatics Betting and Gaming exec Ari Borod as its new president of sports business development.
Borod’s arrival at Polymarket, which was first reported by Front Office Sports, was confirmed by the new exec today, 19 February.
Borod spent more than four years with Fanatics, initially serving as chief commercial officer before stepping up to chief business officer.
He joined the privately owned giant from The Action Network, where he spent time as commercial chief and COO.
A former FanDuel vice-president, Borod marks one of the first major executives to shift from a traditional sports betting operator to a prediction markets platform.
Last August, former Fanatics and DraftKings head Chris Fargis joined Crypto.com as the Singapore-based firm’s managing director of sports and prediction markets.
Polymarket is due to return to the US after snapping up Commodity Futures Trading Commission (CFTC)-licensed QCEX for $112m last July.
The New York-based business previously exited the US in January 2022 after settling with the CFTC over operating an unregulated derivatives exchange.
The business, which runs on the Polygon blockchain, continues to serve a global audience. Its website has a link for US users to sign up for a waiting list to gain access.
Borod said: “As Polymarket continues to expand its global footprint, the mandate is clear: build partnerships that help bring prediction markets to the centre of how fans experience the game.
“Scaling this category the right way is just as important as scaling it quickly. Excited to partner with Shayne Coplan [Polymarket CEO] and the team to help drive the next phase of growth.”
Arnold Ash is EGR’s Executive Recruitment Partner. They support ambitious organisations to identify and attract industry leading executive talent. Find out more here.
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The post Polymarket adds ex-Fanatics head as president of sports business development first appeared on EGR Intel.
Ari Borod joins the New York-based prediction markets platform in high-profile switch from online sports betting and igaming operator
The post Polymarket adds ex-Fanatics head as president of sports business development first appeared on EGR Intel.