New Prediction Platform Debuts: Sports Illustrated, Galactic Collaborate, According to Reports

Sports Illustrated is introducing a new prediction market platform in collaboration with Galactic, a media firm based in the United Kingdom.

This platform, known as SI Predict, will enable users to wager on sports-related events without betting on the actual results of matches.

SI Predict functions similarly to platforms like Polymarket and Kalshi, which utilize blockchain-based derivatives contracts to let users bet on future events, as reported by Bloomberg.

In contrast to traditional sportsbooks that focus on game results, SI Predict will provide markets on sports-related aspects that are not directly linked to scores, such as stadium attendance, halftime show specifics, or other non-score-based outcomes.

"Sports media is no longer a one-sided conversation," stated Galactic CEO Stuart Stott, according to Bloomberg. "Fans want to participate, and they want their opinions to have an impact."

Prediction markets employ blockchain technology to create transparent and verifiable bets. Instead of wagering against a bookmaker, users trade shares in the event's outcome, similar to stock market operations.

If a prediction proves to be accurate, the shares rise in value. If it's incorrect, they become worthless.

Online betting

SI Predict will be accessible globally and will adhere to regulations from the UK's Financial Conduct Authority and the US Commodity Futures Trading Commission. However, as a non-custodial platform, it will not necessitate conventional gambling licenses.

The launch coincides with increasing interest in decentralized prediction markets. Since the U.S. Supreme Court lifted the federal ban on sports betting in 2018, companies such as DraftKings and FanDuel have dominated the online gambling sector. Nevertheless, newer blockchain-based platforms—such as Polymarket—have gained popularity by facilitating bets on a broader range of real-world events.

According to Bloomberg, SI Predict is scheduled to launch in the second quarter of 2025.