Sports Illustrated Introduces SI Predict for Non-Outcome Sports Markets

Sports Illustrated is venturing into the world of prediction markets with the launch of a new platform, SI Predict, in partnership with the UK-based digital marketing company Galactic. The innovative platform will allow users to place bets on various aspects related to sports events—though with a significant difference: it won’t involve betting on the outcome of games. Instead, SI Predict will focus on markets such as predicting halftime performances, game attendance, and other non-outcome-based events, making it distinct from traditional sports betting platforms.

SI Predict: a new era for fan engagement:

The primary goal of SI Predict is to encourage active participation, discussions, and fan engagement by offering a unique form of betting that doesn’t rely on the unpredictability of game outcomes. The platform’s creators hope to provide an outlet for users to showcase their sports expertise in a less complex environment than traditional gambling, thereby broadening the appeal of sports betting to a wider audience. According to the companies involved, the platform will foster “conversation, debate, and engagement.”

“Sports media is no longer a one-way conversation,” said Galactic CEO Stuart Stott, as reported by Bloomberg. “Fans want to be involved, and they want their opinions to have weight.” This ethos is central to SI Predict’s mission as it moves to create an interactive platform where fans can make predictions on elements like which song a halftime performer will sing or how many people will attend a particular game.

As SI Predict plans its global rollout in Q2 2025, the platform’s launch will depend on regulatory approvals in various jurisdictions. Despite its innovative approach, SI Predict is aware of the need to comply with stringent regulations. The platform will adhere to the rules set by the UK’s Financial Conduct Authority and the U.S. Commodity Futures Trading Commission (CFTC), both of which oversee prediction markets and derivatives. However, SI Predict’s structure as a non-custodial platform means that it may not need to be subject to the same regulations as traditional sportsbooks.

Stott noted, “As a non-custodial platform, it does not need to be regulated,” while also emphasizing that SI Predict’s events will be focused on derivative contracts, or what are akin to futures markets. These contracts allow users to make predictions on sports-related events, which do not directly relate to the game’s outcome but focus on ancillary events surrounding the games.

The growing prediction market landscape:

SI Predict enters an increasingly competitive field of prediction markets, which has seen significant interest in recent years. Platforms like Kalshi and Polymarket, as well as major financial companies like Robinhood, have launched similar products that allow users to wager on non-traditional outcomes related to events like sports, politics, and even entertainment.

In the U.S., regulatory bodies such as the CFTC have scrutinized these platforms, especially as they enter the sports space. The CFTC recently hosted roundtable discussions about the regulation of event contracts, which include predictions on sporting events’ non-game-related elements. This attention is due to the increasing demand for such markets, especially with the U.S. Supreme Court’s 2018 ruling lifting the federal ban on sports betting.

Major entities like Major League Baseball (MLB) have expressed concerns about the integrity of these markets, particularly as they aren’t subject to the same regulatory scrutiny as traditional sportsbooks. The MLB has urged the CFTC to establish an “integrity framework” for prediction markets to prevent data manipulation and ensure the fairness of these events.

The introduction of SI Predict marks Sports Illustrated’s return to the sports betting sector following the closure of its previous venture, SI Sportsbook and Casino, in partnership with 888 Holdings. That partnership ended when 888 decided to part ways with Authentic Brands Group, the parent company of Sports Illustrated, following a strategic review of its U.S. operations. 888 agreed to a $25 million termination fee, signaling the end of SI Sportsbook’s operations in the U.S.

Despite this exit, Sports Illustrated’s new venture with Galactic highlights the brand’s continued interest in the broader sports gaming landscape. As sports betting continues to evolve, SI Predict represents a forward-thinking approach that could redefine how fans engage with sports events and prediction markets alike.