Genius Sports Now Settles Contracts for Both Kalshi and Polymarket

Genius Sports has struck agreements with both Polymarket and Kalshi to supply official data, integrity services, and marketing support, making it a single source of truth for settling sports event contracts on the two competing prediction platforms.

The Polymarket deal, announced on Aug. 4, covers settlement data and integrity services, adds exclusive U.S. livestreaming rights, and includes league intellectual property for selected competitions such as Serie A. The Kalshi agreement, announced Aug. 5, provides real-time official data across Genius’s full soccer portfolio, including the English Premier League, Serie A, Liga MX, and French Ligue 1. Kalshi will also join Genius’s information-sharing processes and restrict certain market types. Financial terms were not disclosed.

Genius reported its second-quarter results on Aug. 6, showing revenue of $195.5 million, up 65% year-over-year and above the $185 million guidance. Adjusted EBITDA rose 54% to $52.6 million, exceeding the $45 million guided. The company attributed the beat to early synergies from its acquisition of Legend, execution in media, and an incremental contribution from prediction markets—though the two new partnerships were signed after the quarter ended and did not contribute to Q2 results. Genius raised its full-year revenue guidance to $1.005 billion to $1.025 billion and adjusted EBITDA to $285 million to $295 million.

Despite the revenue growth, Genius posted a net loss of $76.7 million, widening from $53.9 million a year earlier, largely due to costs tied to the Legend acquisition. Media technology revenue, which includes Legend, rose 192.8% to $78.2 million with only two months of contribution. Betting technology revenue rose 27.5% to $117.4 million.

Investors responded positively to the news, sending Genius shares up 14.3% on Tuesday after the Polymarket announcement and roughly 2% more on Wednesday after the Kalshi deal. The stock closed at $8.33, up nearly 25% on the week.

The agreements come as prediction markets see rapid growth. The Block’s dashboard shows July combined volume across Kalshi, Polymarket, and Polymarket US at a record $50.59 billion. However, open interest fell from about $2 billion at the start of July to $1.2 billion by month’s end.

Meanwhile, legal challenges persist. On Aug. 4, a federal judge granted Utah summary judgment against Kalshi, rejecting its preemption arguments over sports event contracts. Kalshi is appealing the decision to the Tenth Circuit.

Source: https://news.bitcoin.com/igaming/genius-sports-now-settles-contracts-for-both-kalshi-and-polymarket/