Sports Illustrated brand enters prediction market space following failed regulated sportsbook
Sports Illustrated was once among the most famous names in sports media.
Times have changed and the media sphere has flattened, but there are clearly some who still believe the letters “SI” hold cachet. A news release this week announced the forthcoming launch of an SI-branded betting platform – the second such effort.
The announcement hailed the planned arrival, in partnership with Galactic, of SI Predict. It would be the latest in a line of sites/apps facilitating exchange-style wagering without state-by-state regulation.
Like Kalshi, Crypto.com, Robinhood and others offering a form of sports betting – they’re reluctant to call it “sports betting”, but the basic gist is that customers can risk money directly on sports-related outcomes – SI Predict intends to operate without procuring a licence through a state-level gambling regulator.
Instead, as Galactic CEO Stuart Stott told Bloomberg, SI Predict intends to follow Commodity Futures Trading Commission regulations – although “as a non-custodial platform, it does not need to be regulated”. It is not yet clear if the company will pursue a Designated Contract Markets licence as an exchange operator.
It was in 2021 that the fully regulated SI Sportsbook launched in Colorado, Virginia and Michigan in partnership with 888. The operator hoped to expand to several additional states but never did and never gained much traction with customers. In 2024, the decision was made to wind down SI Sportsbook. It exited Colorado and Virginia last year and is now inactive in Michigan as well.
Galactic is undaunted
Galactic expressed optimism regarding this lower-barrier-to-entry approach with the SI brand.
Stott said in the press release: “Sports viewership is no longer a one-way conversation. Fans want to be involved and they want their opinions to have weight. SI Predict revolutionises sports engagement, transforming it from passive viewership to an active, influential forum.”
The release defines SI Predict as “a new prediction platform that deepens fan engagement by allowing them to interact directly with lifestyle moments adjacent to live sports events”.
Galactic said it intends to launch SI Predict sometime in the second quarter of this year.
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