GRID introduced a partnership with Sportstensor, a market maker and liquidity supplier for Polymarket, to energy esports prediction markets with official match information.
Beneath the settlement, GRID will turn out to be the official esports information supplier for Sportstensor throughout main esports titles, together with Counter-Strike 2, Dota 2, League of Legends, Valorant, and extra.
Following the acquisition of Bayes Esports, GRID holds the vast majority of the rights for official esports information. The partnership permits GRID to capitalize on the latest increase of prediction markets as Polymarket prepares to relaunch within the US.
In a press launch, Dominika Szot, VP of Progress at GRID. acknowledged, “Prediction markets are rising as one of many fastest-growing frontiers for digital engagement.
“Esports, a sport digital by nature, is a pure match inside that ecosystem. Integrity in settlement is crucial, and official information gives the muse to make sure predictions stay honest, clear, and tamper-proof whereas including new dimensions of leisure worth.”
Capturing the $2.8 Billion Esports Market
Sportstensor introduced the partnership in a put up on X, noting, “Collectively we’re constructing intelligence on official information to seize the $2.8 billion esports market. Ushering within the subsequent wave of market intelligence that can stream into Almanac and Polymarket.”
Leo Chan, Co-founder & CEO of Sportstensor, added, “Prediction markets rely upon belief, not simply between merchants, however within the accuracy of outcomes that underpin each contract.
Partnering with GRID ensures our esports markets are settled utilizing verified, rights-compliant information straight from the supply. That permits us to design richer and extra participating markets for Polymarket customers, uniquely enabled by official information.’’
Sportstensor Journey From Bittensor Subnet To Polymarket Accomplice
Sportstensor introduced a partnership with Polymarket in September. The corporate launched as a Bittensor Subnet in July final yr.
Since then, it has developed an AI buying and selling mannequin and, in a put up detailing its journey, declared that, “The outcomes have been exceptional, with top-performing miners attaining common mid-single-digit share returns on funding (ROI) on turnover; efficiency that rivals institutional sports activities merchants.”
Polymarket Launching Within the US Amid Prediction Market Growth
Polymarket is about to relaunch within the US within the coming weeks after buying QCEX, an trade licensed by the Commodity Futures Buying and selling Fee (CFTC). Beforehand, the CFTC fined Polymarket $1.4 million and ordered it to stop operations within the US.
As the corporate gears as much as formally re-enter the nation, sports activities prediction markets have exploded. CFTC-licensed Kalshi has grown exponentially since launching a market on the Tremendous Bowl in January this yr.
Regardless of authorized opposition, sports activities markets proceed to increase on Kalshi, Polymarket, and different platforms comparable to Crypto.com. The latter has partnered with Underdog to mix DFS and prediction markets.
Main sportsbooks are actually additionally getting into the house. DraftKings this week introduced it should launch DraftKings Predictions by the tip of the yr. CEO Jason Robins stated, “That is essentially the most bullish I’ve ever felt about the way forward for DraftKings.”
Rival platform FanDuel has additionally partnered with the CFTC-licensed trade CME, which appears to be like set to launch sports activities markets.
Moreover, PrizePicks gained CFTC approval following its takeover by Allwyn and appears set to compete within the booming trade.
Polymarket will hope the partnership with Sportstensor, which in flip is partnering with GRID will place itself as one of many market leaders within the new esports betting panorama.
