Sports Illustrated Brand Enters ‘Prediction Market’ Space Following Failed Regulated Sportsbook

Sports Illustrated was once among the most famous names in sports media. Times have changed and the media sphere has flattened, but there are clearly some who still believe the letters “SI” hold cachet, as a news release this week announced the forthcoming launch of an SI-branded betting platform — the second such effort.

The announcement hailed the planned arrival, in partnership with Galactic, of SI Predict, the latest in a line of sites/apps facilitating exchange-style wagering without state-by-state regulation. Like Kalshi, Crypto.com, Robinhood, and others offering a form of sports betting — they’re reluctant to call it “sports betting,” but the basic gist is that customers can risk money directly on sports-related outcomes — SI Predict intends to operate without procuring a license through a state-level gambling regulator.

Instead, as Galactic CEO Stuart Stott told Bloomberg, SI Predict intends to follow Commodity Futures Trading Commission (CFTC) regulations — though “as a non-custodial platform, it does not need to be regulated.” It is not yet clear if the company will pursue a Designated Contract Markets (DCM) license as an exchange operator.

It was in 2021 that the fully regulated SI Sportsbook launched in Colorado, Virginia, and Michigan in partnership with 888. The operator hoped to expand to several additional states but never did and never gained much traction with customers, and in 2024, the decision was made to wind down SI Sportsbook. It exited Colorado and Virginia last year and is now inactive in Michigan as well.

Undaunted, Galactic expressed optimism regarding this lower-barrier-to-entry approach with the SI brand. Stott said in the press release, “Sports viewership is no longer a one-way conversation. Fans want to be involved, and they want their opinions to have weight. SI Predict revolutionizes sports engagement, transforming it from passive viewership to an active, influential forum.”

Are you ready to interact with moments?

The release defines SI Predict as “a new prediction platform that deepens fan engagement by allowing them to interact directly with lifestyle moments adjacent to live sports events.”

The wording seeks to suggest something other than wagering on sports. But the video teasing the product depicts the opportunity to place money on “yes” or “no” with regard to individual sports player props, which is identical to how over/unders work at a sportsbook except users aren’t betting against the house with SI Predict.

Galactic said it intends to launch SI Predict sometime in the second quarter of this year.

It also suggested the platform will feature markets not available at traditional sportsbooks, saying it “will focus on fostering conversation, debate, and engagement on a wide range of socially relevant and fun propositions, allowing users to showcase their expertise without the complexities of gambling nor a focus on outcomes or traditional game-specific propositions found at sportsbooks.”

The site is live (though markets are not), and the four-step “how to” sounds an awful lot like sports betting without using the word “betting”:

• Pick Your Market: From football to hockey, choose your area of expertise
• Place Your Prediction: With just a couple of clicks
• Watch In Real-Time: Track your accuracy as live data updates, market movements shift, and audience sentiment evolves
• Win More Than Bragging Rights: If you’re right, turn your predictions into profits

Media brands like SI, ESPN, and FOX have struggled competing against daily fantasy companies and casino companies in the regulated sportsbook space. SI Predict should tell us a little something about whether those brands can fare any better competing in the rapidly expanding world of prediction markets.