Kalshi has followed in the footsteps of its prediction markets rival Polymarket in partnering with Genius Sports to bring official sports data, marketing, media and integrity services to its platform.
Genius announced the deal exactly one day after it struck a similar one with Polymarket.
Unlike that partnership though, this one with Kalshi does not indicate that it involves exclusive streaming rights.
It has, however, given Genius shareholders a second boost in as many days, as the NYSE-listed firm’s stock jumped on the back of the news.
Genius’ stock was trading as high as $8.60 pre-market and, when trading opened today, it stood at $8.40 – a spike of over 4.3% on the $8.05 mark it was at when the market closed on Tuesday.
Shares in the company have begun to stabilise now and are trading at $8.25 at the time of writing (3:40pm BST).
Under the latest agreement, Genius Sports will provide Kalshi with real-time official data across its football portfolio, including the English Premier League, Serie A, Liga MX, Argentine Primera División and French Ligue 1.
The data will provide a verified source for settling sports prediction market contracts, with the companies saying the use of official information will improve transparency and reduce reliance on unofficial or delayed data.
As was with Genius’ Polymarket deal, it also includes information-sharing measures intended to strengthen the integrity of sports.
“Prediction markets will scale on a foundation of trusted, fast and accurate data, reliable technology and robust integrity services, and that is exactly where Genius Sports is uniquely positioned,” said Sean Conroy, EVP of Rights and Partnerships, at Genius Sports.
“This partnership with Kalshi demonstrates how we can provide the essential technology layer that enables accurate and transparent sports markets.
“As this category grows, we believe Genius Sports will play a central role in shaping its development while helping protect the integrity of sports.”
Deal comes amid Kalshi’s New York troubles
Kalshi will take part in Genius’ information-sharing processes, while certain market types will be restricted and visibility into market activity enhanced.
This is in an attempt to safeguard the integrity of sports competitions and comes after allegations of insider trading on Kalshi.
The company tightened up its rules around insider trading earlier this year in response to scrutiny.
The deal also comes with the backdrop of Kalshi facing a $36bn illegal gambling lawsuit in New York.
It looks like Genius sees further growth potential for the prediction markets landscape though, as seen by the positive comments made by Conroy.
With Kalshi and Polymarket now both on board, the tech firm has secured deals with what are by far and away the two most dominant players within the space.
Alongside its data and integrity services, Genius Sports will support Kalshi’s audience growth through marketing services, including its Legend-owned media properties – again representing a plus side to the $1.2bn acquisition completed in May.
Adam Barrick, Head of Sports Partnerships at Kalshi, added: “As the prediction market ecosystem continues to expand at a rapid pace, the use of official data and integrity services is more important than ever.
“We’re proud to partner with Genius Sports, with their proven track record in providing the highest quality sports data and working alongside leagues to protect the transparency of sporting competitions.”
Whether Genius’ share price boom continues will most likely be seen tomorrow as the company reveals its Q2 results and the initial impact of the Legend takeover before the NYSE opens tomorrow.