LeBron goes from DraftKings to Polymarket
Polymarket
On Fridays, the Brew’s Dave Lozo looks at a sports business story that says a lot more than just the final score of a game.
Philadelphia 76ers star LeBron James (that looks weird, right?) has partnered with Polymarket, the platform that lets you bet on sports without technically betting on sports.
That partnership has borne a commercial featuring James and a slew of other sports stars seemingly in need of a paycheck despite immense career earnings. For James, the move to Polymarket comes as his deal with DraftKings expires. And, just like his partnership with the sportsbook, the new campaign will focus primarily on football to avoid any NBA conflicts, which means brace yourself for months of these ads during NFL games.
More to come? Front Office Sports reports the NBA will likely join other sports leagues and announce its own partnership with a prediction market company next month. Meanwhile, some states have sued over whether prediction markets must follow their gambling laws (the companies claim they’re federally regulated), and the Supreme Court may be poised to rule on the topic, although that may not come until next summer.