Sports Betting News, Reviews & More

The Prediction Market Company Kalshi is Entering the Sports Betting Market in a move that could disrupt the sportsbook market. According to the latest sports betting news, Kalshi filed with the CFTC to list Super Bowl betting odds. The filing with the Commodity Futures Trading Commission took place on Wednesday, January 22 and will initially be listed on January 23, 2025.

In addition, the filing was not just limited to the Super Bowl. It also included the Stanley Cup, and the winner of the NCAA’s men’s basketball tournament, among others. With this filing, the contract will enable traders to engage in the buying and selling of contracts related to the results of this weekend's NFL conference championships.

Kalshi users are already actively engaging with the newly introduced sports event contracts. As of Thursday morning, trading in Kalshi's market related to March Madness exceeded $140,000, while the market associated with the Stanley Cup surpassed $40,000.

Kalshi Enters the Sports Betting Market Starting with Super Bowl Betting

The CFTC filing by Kalshi comes right before the Super Bowl which is the most popular and profitable football betting event of the year. Most sportsbook have been getting ready for the Super Bowl since the football season began. However, now is considered crunch time for bookies as they try to maximize the number of players and bets before the Super Bowl arrives.

According to the filing with the CFTC, customers of Kalshi can acquire contracts priced between $0.01 and a maximum of $0.99. For each contract that is successfully predicted, customers will receive a payout of $1. Conversely, contracts that do not succeed yield no return.

As the service operates under CFTC regulation, Kalshi is able to provide its contracts to users across all states in the nation without delay.

Kalshi is currently offering trading contracts for the following sports events:

• Super Bowl champion
• NFL NFC champion
• NFL AFC champion
• NBA champion
• NBA Western Conference champion
• NBA Eastern Conference champion
• NHL champion
• NCAA men’s basketball champion

The company prohibits current and former players, coaches, and staff associated with the NFL, NHL, NBA, and NCAA from purchasing these contracts. Additionally, employees of the leagues, league Participants, team owners, and their immediate family members are also restricted from engaging in these transactions.

The new contracts became available today; however, it remains uncertain whether the CFTC will raise any concerns regarding these new markets.

Impact of Kalshi and Prediction Market Company on Traditional Sportsbooks

The impact of Kalshi and other Prediction companies on traditional football betting websites could be severs. There has been considerable discourse within sports business circles regarding their potential threat. Needless to say, the threat to traditional sports betting websites like FanDuel and BetMGM is real.

Exchanges operate in all 50 states, while traditional sportsbooks are not accessible in approximately a dozen states, including California and Texas. Additionally, exchanges can provide significantly lower "vig" on bets due to their peer-to-peer nature, contrasting with the public betting against the house.

This month, Kalshi has initiated offerings of odds concerning which NFL coaches will be appointed by various teams with vacancies, including the Bears, who have recently hired Ben Johnson, and the Jaguars.

Currently, exchanges are cautiously exploring the realm of futures bets. However, should they expand to include single-game odds and player propositions, they could represent a far more substantial challenge to the traditional sports betting sector.

Open a Sportsbooks in Minutes with PricePerPlayer.com