Sportradar Group AG has sealed a multi-year agreement with Kalshi, establishing itself as a core data and solutions supplier for the prediction market operator. Under the deal, Sportradar will deliver a broad range of sports content and services tied to major competitions, among them Major League Baseball (MLB), the National Hockey League (NHL), Major League Soccer (MLS), and the Ultimate Fighting Championship (UFC).
Key takeaways
- Sportradar and Kalshi announced a multi-year global agreement on June 8, 2026, marking Sportradar's entry into prediction markets.
- The package covers official data and live odds, fan engagement and marketing services, plus integrity monitoring through UFDS and the Sportradar Integrity Exchange.
- Sportradar also gains the right to contract directly with Kalshi's brokers and market makers.
- The deal arrives while federal regulators, courts and several U.S. states are still fighting over who may regulate sports event contracts.
The agreement was announced on June 8, 2026, under a joint dateline of St. Gallen, Switzerland, where Sportradar is based, and New York. In its release, Sportradar called Kalshi the world's largest prediction market and presented the tie-up as the opening move in a broader expansion into the segment rather than a stand-alone supply contract.
Connecting Sports Data With Prediction Markets
The arrangement is built to feed official league data into Kalshi's pre-game and in-play markets, tightening market efficiency and supporting accurate, on-time settlements. Beyond raw data, Sportradar will supply fan engagement tools—dynamic content, live scores, schedules, and data visualizations—along with customer acquisition services aimed at reaching high-value sports audiences.
The partnership also folds in Sportradar's integrity capabilities. Its UFDS AI system flags suspicious activity, while the Integrity Exchange provides a secure channel for sharing integrity threats. Through the tie-up, Sportradar gains direct access to Kalshi's key partners, including brokers and market makers, and can extend its offerings across the broader value chain.
Only a handful of commercial terms were disclosed. Neither side revealed the contract's value or its precise length, and CDC Gaming described the pact as non-exclusive. The release did spell out one condition: Sportradar says it will supply products and services only to Kalshi and other licensed prediction market entities that comply with applicable laws and regulations. According to CDC Gaming, Sportradar executives had already teased a possible major announcement during the company's first-quarter earnings call.
Sportradar CEO Carsten Koerl underscored the importance of the agreement in a press release:
"Prediction markets represent a compelling growth engine for the global sports ecosystem and Sportradar is uniquely positioned to shape and power this emerging sector. Our partnership with Kalshi extends the reach of our premium sports data and services into a rapidly evolving landscape, fostering collaboration with market makers and the broader marketplace. This partnership with Kalshi marks a critical first step. We look forward to working with key prediction market participants as the landscape matures, establishing the trusted, compliant framework for sports innovation just as we have successfully delivered in online sports betting."
— Carsten Koerl, Chief Executive Officer, Sportradar
Market Reaction and Regulatory Backdrop
Kalshi CEO Tarek Mansour pointed to the practical upside for users, noting that the collaboration speeds up settlements and smooths the overall experience. "The breadth and depth of this partnership is what makes it a big deal. We're using official league data to ensure quicker trade settlements, creating an overall better customer experience. We're also collaborating on an integrity monitoring program to further protect our users," he said.
The push into prediction markets fits Sportradar's wider strategy of reaching beyond conventional sports betting, where it already works with major sportsbooks such as FanDuel and DraftKings. Prediction markets have grown quickly, yet oversight remains patchy. A handful of U.S. states, Minnesota among them, have imposed bans, while the Commodity Futures Trading Commission (CFTC) has largely backed licensed platforms. The picture varies abroad too: France, Belgium, and Portugal keep restrictive policies, whereas Gibraltar and Liberia are openly courting prediction market operators.
Investors welcomed the announcement. Shares of Sportradar Group AG (NASDAQ: SRAD) climbed 8.35 percent to $15.11 in New York following the news, a sign of optimism about the company's foray into the fast-expanding prediction market space.
Two Companies With Very Different Roots
Sportradar traces its origins to 2001 in Trondheim, Norway, where a company called Market Monitor AS built software to collect the odds posted by online bookmakers; Koerl, who is also credited as a co-founder, bought a 51% stake. Now headquartered in St. Gallen, the group floated on Nasdaq in September 2021 at a valuation of about US$8 billion and reported 2025 revenue of roughly €1.29 billion in its annual filing. Through its Betradar brand it supplies data and odds to bookmakers, and its integrity division has long run betting-pattern monitoring for bodies including UEFA. The NHL, one of the properties named in the Kalshi deal, signed a ten-year data, streaming and integrity agreement with Sportradar in 2021.
Kalshi is a far younger business. Tarek Mansour and Luana Lopes Lara set it up in 2018, and in November 2020 it registered with the CFTC as a designated contract market, which lets it list event contracts under federal commodities law. The platform opened to the public in July 2021 and, after years of disputes with the CFTC over election contracts, has grown largely on sports, which accounted for about 89% of its 2025 revenue. By May 2026, a funding round led by TCV had lifted its valuation to US$22 billion.
A Legal Fight Over Who Regulates Event Contracts
The central question hanging over the sector is whether sports event contracts are financial derivatives or gambling. On April 4, 2026, the U.S. Court of Appeals for the Third Circuit upheld a preliminary injunction Kalshi had secured against New Jersey gaming regulators. In a 2–1 ruling, the court found that sports contracts listed on a CFTC-registered exchange are swaps under the Commodity Exchange Act and that federal law preempts state gambling rules. It was the first federal appeals decision on the issue, with similar cases then pending in the Fourth, Sixth and Ninth Circuits.
The CFTC has also gone to court itself. In late April it sued Wisconsin, whose attorney general Josh Kaul had filed a case against Kalshi, Polymarket, Robinhood, Coinbase and others, having filed a comparable complaint against New York the previous week. Earlier that month a judge in Arizona, the first state to bring criminal charges against Kalshi, restrained the state from regulating prediction market operators.
"States cannot circumvent the clear directive of Congress. Our message to Wisconsin is the same as to New York, Arizona and others: if you interfere with the operation of federal law in regulating financial markets, we will sue you."
— Michael S. Selig, Chairman, CFTC
Several states have kept pushing back. A Massachusetts judge granted a preliminary injunction in January 2026 that stopped Kalshi offering sports contracts there, a Nevada court issued a temporary restraining order against the company on March 20, 2026, and Michigan's attorney general sued the platform in March. In May, Minnesota enacted a law banning prediction markets from August 1, 2026, and the federal government went to court almost immediately to block it.
What Comes Next
Sportradar is treating Kalshi as a starting point. Koerl has said the company intends to work with other key prediction market participants as the sector matures, and the right to deal directly with brokers and market makers opens a second sales channel beyond the exchange itself. Rulings still to come from other federal appeals courts and the federal challenge to Minnesota's ban will help decide how much of the U.S. market remains open to these products.
