Google to Add Kalshi & Polymarket Prediction Data
Google has announced a partnership to integrate real-time forecasting data from prediction markets Kalshi and Polymarket into its Google Finance platform. The integration is a component of a broader, AI-powered update to the service and is designed to provide users with access to crowd-sourced data on the potential outcomes of future events.
The rollout of this new feature is expected over the next few weeks.
About Prediction Markets
Prediction markets, such as Polymarket and Kalshi, are exchanges where users can trade contracts based on the outcome of specific, real-world events. The market prices of these contracts are intended to reflect the public's collective forecast of an event's likelihood. These platforms have recently attracted significant institutional investment. A recent funding round valued Kalshi at $5 billion, while an investment from Intercontinental Exchange, the parent company of the New York Stock Exchange, valued Polymarket at approximately $8 billion.
A Step Towards Mainstream Adoption
The integration into Google's platform marks a notable step in the mainstream adoption of prediction markets. It follows other recent developments, including a multiyear partnership between the National Hockey League (NHL) and both Kalshi and Polymarket, making them the league's official prediction market sponsors.
Navigating a Complex Regulatory Environment
This growing acceptance occurs amid a complex regulatory environment. Kalshi is federally regulated in the United States by the Commodity Futures Trading Commission (CFTC) as a Designated Contract Market. However, the platforms face legal challenges at the state level. Gaming regulators in several states, including New York, Ohio, and Nevada, have initiated litigation or issued cease-and-desist orders, arguing that contracts related to sports events constitute illegal sports wagering under state laws.
Summary
The move by Google places prediction market data before a broad audience, while simultaneously highlighting the ongoing tension between federal oversight and state-level gaming regulations. The resolution of these legal and jurisdictional questions is expected to be a key factor in the future growth and structure of the prediction market industry in the U.S.
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