Major League Baseball (MLB) has made headlines by becoming the latest and most significant U.S. sports league to enter the prediction market arena. On Thursday, MLB announced partnerships with both Polymarket and the Commodity Futures Trading Commission (CFTC).
Polymarket has been designated as the league's Official Prediction Market, with MLB Commissioner Rob Manfred and CFTC Chair Michael Selig signing a memorandum of understanding aimed at safeguarding the integrity of baseball.
According to sources cited by Front Office Sports, the deal with Polymarket is valued between $150 to $300 million over a potential three-year period. The partnership resembles traditional league sponsorships, granting Polymarket and its brokers exclusive access to MLB logos and branding, while the Polymarket name will feature on MLB's digital platforms and at league events. Additionally, Polymarket will have access to official league data through Sportradar.
MLB is not alone in this venture; it also maintains official partnerships with FanDuel, DraftKings, and BetMGM. Although Polymarket's U.S. platform has not fully launched, users can already find sports event contracts on the app, showcasing the MLB logo, although active baseball markets are currently absent.
This move marks a significant step for MLB as it is the largest U.S. sports organization to engage with prediction markets, a sector that remains both emerging and controversial. Other leagues like the NHL have existing licensing agreements with Polymarket and Kalshi, while Polymarket also collaborates with MLS and UFC.
Commissioner Manfred hinted at this development during a meeting in February, where he discussed the importance of distinguishing prediction markets from traditional sports betting, especially in light of recent controversies involving Cleveland Guardians pitchers Emmanuel Clase and Luis Ortiz.
“We believed it was crucial for the owners to understand the differences and the potential benefits of prediction markets in maintaining our integrity,” Manfred stated.
While the term “integrity” may not align with the views of many in the gambling and financial sectors regarding prediction markets, both Manfred and Selig are committed to this principle. Selig emphasized their joint commitment to upholding the integrity of prediction markets related to professional baseball.
In a press release, Manfred elaborated on the significance of the new agreements with Polymarket and the CFTC, stating, “These partnerships are essential for proactively managing the rapidly evolving prediction market landscape. Protecting the integrity of our game is our foremost priority. By collaborating within this community, we can establish clear guidelines to mitigate risks while enhancing fan engagement opportunities.”
The sports and gambling industries were already buzzing when the NHL announced its prediction market deals in October, so MLB's recent partnership comes as no surprise. This leaves only the NFL and NBA without affiliations in the prediction market space, and it seems likely that further developments will emerge soon.
During the NBA All-Star festivities in Los Angeles last month, Commissioner Adam Silver mentioned that the league is examining prediction markets similarly to how it approaches sports betting companies. Meanwhile, the NFL has retracted statements made by Executive VP Jeff Miller regarding the fan engagement advantages of prediction markets.