Formula 1 announced on April 30 that FanDuel will become its first U.S.-based official betting partner, integrating the operator’s content into the race’s digital platforms.
...
FanDuel looks into prediction market expansion through Kalshi
FanDuel, one of the top sportsbook operators in the U.S., is reportedly in early discussions with Kalshi, a platform that lets users trade on real-world events like politics, pop culture, and sports.
Currently, FanDuel is available in only those 39 states where sports betting is legal. A partnership with Kalshi could help it reach new audiences in restricted markets. In return, Kalshi would gain access to FanDuel’s more than 12 million users.
Kalshi, being regulated by the Commodity Futures Trading Commission, became more popular during the peak of the 2024 US presidential election. At that time, the CFTC proposed banning political event trading to protect elections from becoming commodities.
Unlike regular sportsbooks, Kalshi doesn’t take bets against users. Instead, people trade predictions with each other, and Kalshi earns a fixed fee. Kalshi has also expanded into sports, launching markets tied to big events like the Super Bowl. But its appeal goes further, with quirky predictions like whether Elon Musk will unfollow Donald Trump.
This move may make a big change in traditional sportsbooks’ adaptation to changes in the betting industry. Recently, FanDuel has added a $0.50 fee in Illinois over the new state tax hike.
FanDuel has announced the shutdown of two of its media operations, FanDuel TV and FanDuel Picks.FanDuel revealed the news during a town hall meeting, announcing that the...
