One of North America's largest daily fantasy sports operators, PrizePicks, has partnered with Polymarket to expand its business in the prediction market space—this strategic move is expected to create new revenue streams beyond its core fantasy sports operations.

The two companies announced on Tuesday that the partnership will integrate Polymarket's event contracts directly into the PrizePicks app, allowing users to predict outcomes across various fields, including sports, entertainment, and cultural events.

Polymarket founder and CEO Shayne Coplan noted that this collaboration could attract millions of PrizePicks users to this emerging prediction market ecosystem.

Both parties stated that the launch of this business will coincide with Polymarket's return to the U.S. market, marking a new attempt to introduce regulated prediction trading for American users.

For PrizePicks, this move represents a strategic expansion beyond daily fantasy competitions, enabling the company to diversify user engagement and stand out in an increasingly competitive sports betting market.

A significant feature of Polymarket in the field of event outcome prediction is its decentralized design, built on the Polygon blockchain, which allows for transparent market operations without the need for a central intermediary.

The platform gained prominence during the 2024 U.S. presidential election, when its trading activity and market odds accurately predicted Donald Trump's return to the White House, well ahead of traditional polls reflecting this political trend shift.

However, Polymarket's rapid rise has not been without challenges. A recent academic paper by researchers at Columbia University found that up to 60% of the platform's trading volume may be artificially manipulated, primarily through wash trading—an act where the same entity repeatedly buys and sells assets to create a false appearance of market activity and liquidity.

Researchers indicated that they began detecting large-scale wash trading on Polymarket in July 2024, suggesting that the observed increase in trading volume may not reflect genuine market participation.

Cointelegraph has reached out to Polymarket for a response but had not received any reply by the time of publication.

Allegations of wash trading are not unique to the prediction or betting markets—similar behavior has been recorded in the broader decentralized finance (DeFi) ecosystem. A report by Solidus Labs in 2023 highlighted multiple cases of significant wash trading on various decentralized exchanges.

Recently, reports from several traders and analysts have indicated an upward trend in suspicious wash trading activity on the Solana decentralized exchange.

Related: Columbia University Study: Up to 60% of Polymarket's Trading Volume May Stem from Wash Trading

Original article: “Major Fantasy Sports Operator Partners with Polymarket to Enter Prediction Markets”

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