Thanksgiving Betting Bonanza: How NFL Games Fuel Prediction Markets

The NFL's Thanksgiving games are more than just football; they're a massive opportunity for prediction markets. With teams from states where sports betting is illegal playing, these games see a huge surge in activity. The Dallas Cowboys vs. Kansas City Chiefs game, for example, is expected to set new records for NFL-related prediction contracts. But why the big deal? Prediction markets like Kalshi and Polymarket offer a different kind of betting experience. Instead of traditional sportsbooks, they provide futures contracts, which some argue is not the same as gambling. This distinction has caught the attention of major players like DraftKings and FanDuel, who are planning to enter the prediction market soon. However, the popularity of these markets isn't steady. It spikes during high-profile games or when teams from states without legal sports betting play. This could mean that the long-term success of prediction markets depends on more than just word of mouth. It might require significant marketing efforts to keep the momentum going. Meanwhile, Netflix is making moves into the sports broadcasting world. The streaming giant has hired Elle Duncan from ESPN to be the face of its live sporting events. This is a big deal because Netflix has struggled to convince traditional media companies to lend their talent for sports events. With Duncan on board, Netflix might be positioning itself to become a major player in the sports media ecosystem. In other news, golf superstar Rory McIlroy has been vocal about his stance on LIV Golf. He believes that the PGA Tour is in a better position than LIV Golf, which has spent billions without showing a return on investment. McIlroy also discussed the potential merger between PGA and LIV, stating that it doesn't seem close. The NHL is also making headlines. The Edmonton Oilers had the highest profit and revenue in the league last season, but they're still not the most valuable team. This is because their market isn't as prestigious as cities like Toronto or New York.