Major League Baseball has both struck a deal with Polymarket and agreed to cooperate with the Commodity Futures Trading Commission on maintaining the integrity of the game.
"We're honored to announce MLB has named Polymarket as their Exclusive Prediction Market Exchange Partner," the crypto-based betting platform posted to social media on Thursday.
Under the new licensing deal, Polymarket will have exclusive access to the baseball league's data and iconography. Additionally, the prediction market and MLB "will work together to restrict markets that present an integrity risk — including individual pitches, manager decisions, and umpire performance," according to Polymarket.
The move comes ahead of the start of the MLB's Opening Day, and after last season, when pitchers were accused of taking bribes from sports bettors to throw certain types of pitches. Prop betting, where users can wager on individual decisions and performance, is prevalent on Polymarket, as it is on regular betting sites.
Polymarket told The Block by email that its deal with MLB builds on its "partnership with Palantir and TWG AI to develop a next-generation sports integrity platform, and reflects Polymarket's broader approach of working collaboratively with regulators and league partners to protect the game while creating new ways for fans to engage with it."
Aside from Polymarket's new deal, MLB and the CFTC said Thursday they have signed a Memorandum of Understanding aimed at discussing how to maintain the integrity of the game and prediction markets.
"Through this MOU, the CFTC is well-positioned to add additional tools to protect these markets and its participants from fraud, manipulation, and other abuses," CFTC Chairman Michael Selig said in a statement. "I thank MLB and Commissioner Rob Manfred for partnering with the CFTC and taking a leading role in protecting the integrity of these growing markets."
Meanwhile, Polymarket's rival, Kalshi, has been battling state authorities who challenge the stance that prediction markets offer event contracts, which are regulated under the Commodity Exchange Act, enforced by the CFTC.
Both Polymarket and Kalshi are said to be trying to raise capital at $20 billion valuations.
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