ProphetX Expands B2B Prediction Market Push With Pikkit Partnership

ProphetX continues to build out its B2B arm, with sports tracking and analytics platform Pikkit the latest company to adopt its prediction market technology.

The deal grants Pikkit users access to sports event contracts powered by ProphetX. Pikkit lets sports fans track activity and compare results across betting and daily fantasy platforms. The company said its users number in the hundreds of thousands.

As part of the initial rollout, ProphetX said markets covering game outcomes, player props, and season-long futures will be available directly through the Pikkit platform. ProphetX will execute the contracts on its Commodity Futures Trading Commission (CFTC)-regulated exchange.

ProphetX Co-Founder and Chief Commercial Officer Jake Benzaquen said Pikkit’s data-focused user base made it a natural fit for the product.

“Pikkit’s community is made up of the most engaged traders in the country — people who track every result and know exactly where their edge comes from,” he said.

Partnering with Pikkit gives that community direct access to a federal exchange where the crowd sets the price and every participant competes on a level playing field, instead of against the house.

ProphetX Co-Founder and Chief Commercial Officer Jake Benzaquen

B2B Strategy Begins to Take Shape

The deal provides another example of the B2B strategy ProphetX outlined following its $35 million fundraising round last month.

CEO and Co-Founder Dean Sisun said at the time that ProphetX sees a significant opportunity in supplying prediction market infrastructure to third-party businesses.

ProphetX continues to offer a consumer-facing product. However, it is increasingly positioning itself as a technology partner for brokerages, retail apps, and other platforms with existing audiences.

In July, it announced its first such integration, with skill-based gaming platform Players’ Lounge.

Following last month’s funding round announcement, Sisun said ProphetX had signed a “handful” of additional agreements. He added that the company would unveil these over the coming months. The Pikkit partnership is the first of these.

Pikkit Co-Founder and Co-CEO Pranav Tadikonda said prediction markets were a “logical next step” for users already comparing prices and analyzing their trading activity.

“Our users are already doing the work — tracking their trades and comparing venues to find the best price. ProphetX gives us a regulated, exchange-based way to put that analysis to work,” he said.

The Pikkit integration is expected to launch ahead of the upcoming NFL season in September. It will initially offer markets covering the NFL, NBA, and international soccer.