Major League Soccer Partners with Polymarket in Prediction-Market Deal

- Major League Soccer announces a partnership with Polymarket, joining other sports leagues in prediction markets despite controversies. The deal emphasizes integrity and engagement with fans.

Major League Soccer Partners with Polymarket

Major League Soccer (MLS) has unveiled a multiyear partnership with prediction market platform Polymarket, following a trend of sports leagues collaborating with such platforms despite recent controversies.

Growing Trend in Sports Partnerships

MLS joins the NHL in embracing prediction markets, allowing users to trade on event outcomes without traditional sports betting elements. Unlike sportsbooks, platforms like Polymarket and Kalshi operate nationwide, including in states where sports gambling is prohibited.

Regulatory Challenges and Legal Issues

Regulation of prediction markets faces legal scrutiny, with state gaming regulators challenging the legality of event contracts offered by platforms like Kalshi and Polymarket. While some argue for state jurisdiction, others claim federal oversight by the Commodity Futures Trading Commission.

Focus on Integrity and Engagement

Chris Schlosser, MLS's senior VP of emerging ventures, highlighted the importance of maintaining sports integrity in the partnership. Measures include real-time monitoring of trading activities and prohibiting insiders from engaging in trading.

The partnership aims to engage soccer fans, especially in states like California and Texas, where sports betting is restricted. Plans include allowing fans to trade on match outcomes and championship predictions.

Strict Guidelines for Players

Players are barred from participating in prediction markets and other gaming activities, ensuring fair play and upholding integrity standards within MLS.