Kalshi struck a deal to provide Fox Corporation with prediction market data, expanding its roster of news network partners, according to a statement from Tuesday.
Through a partnership with Fox Corporation, Kalshi's data will appear across Fox News, Fox Business Network, Fox Weather and the Fox One platform, according to a statement. Kalshi has already entered into similar partnerships with rival networks CNN and CNBC.
Notably, Fox Sports was not mentioned as part of the partnership. A Kalshi spokesperson told The Block that sports data was "not included to start, but maybe in the future."
Kalshi's deal with Fox comes as the prediction market confronts multiple legal battles in different states. Some states have sought to prohibit the prediction market platform from offering sports-related contracts.
While prediction markets have provided users with another way to wager on sports, some professional leagues have opposed the move.
The National Football League recently asked both Kalshi and rival Polymarket to pull back on a range of contract offerings. Meanwhile, the National Hockey League reached multi-year licensing agreements with both Kalshi and Polymarket.
Kalshi, which recently raised more than $1 billion at a $22 billion valuation, asserts that it is a federally regulated commodities exchange regulated by the Commodity Exchange Act, and therefore, its offerings supersede state law.
On Monday, an appeals court handed Kalshi a victory on Monday when it ruled that New Jersey does not have explicit authority over sports-related event contracts offered by entities regulated by the Commodity Futures Trading Commission.
In Nevada last week, however, a state judge granted a preliminary injunction barring Kalshi from offering sports, entertainment, and election-related contracts in the state without a gaming license.
"As part of this sponsored integration, relevant Kalshi data will be incorporated into FOX’s linear and digital content," the prediction platform said Tuesday. "Kalshi will also work directly with FOX data and production teams to provide real-time data access for seamless data visualization around key political, economic, weather and cultural storylines."
Kalshi added that most people visiting its platform use it as a resource to better understand the odds of certain outcomes, rather than trading on specific events like elections or sporting events. The prediction platform's data should help inform Fox's reporting, according to the statement.
"By integrating Kalshi's real-time data into our fast-growing streaming platform Fox One and across Fox News Media's leading networks, we're giving audiences both deeper insights and a more engaging way to follow the stories that matter most." Tubi Media Group CEO Paul Cheesbrough said in Tuesday's statement.
Tubi is one of Fox Corporation's brands.
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