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ProphetX has partnered with Players’ Lounge to offer regulated sports prediction markets to users of the gaming platform in applicable U.S. jurisdictions.
The rollout gives Players’ Lounge users access to contracts tied to the NFL, NBA, and international soccer. According to the announcement, available markets include game outcomes, player props, tournament brackets, and championship futures, with additional sports contracts expected to be added on a rolling basis.
Players’ Lounge CEO Austin Woolridge said the product fits the platform’s focus on skill-based competition and gives its community “a regulated, exchange-based way to trade on the games they care about most.”
For ProphetX, the deal expands distribution through a platform that has facilitated more than $250 million in wagers since launching in 2016. The Covers report said ProphetX recently received approval from the Commodity Futures Trading Commission and described the company as the first sports-native prediction market operator in the U.S.
ProphetX has changed form several times in recent years. It launched in 2022 as Prophet Exchange, a peer-to-peer, state-regulated sports betting site. In July 2024, it rebranded as a sweepstakes sportsbook and expanded to 40 U.S. states, according to the report.
ProphetX co-founder and chief commercial officer Jake Benzaquen said the Players’ Lounge audience is a natural fit for exchange-style markets, arguing the model offers transparent pricing and a level playing field for participants.
What matters for players is that availability is not nationwide. The markets are only live in applicable U.S. jurisdictions, and the announcement did not specify which states are included. It also did not detail when additional sports contracts will go live.
The launch adds to a broader push around sports event contracts and prediction markets in the U.S., though readers should watch for more detail on jurisdiction availability and product scope before assuming access in their state.
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Source: As reported by Brad Senkiw.
