Aug 25 (Reuters) - Kalshi entered brand partnerships with five Major League Baseball teams in the United States, the prediction market startup said on Tuesday, solidifying engagement for fans on its app.
Here are more details from the announcement:
• The brand partnership agreements were signed with Boston Red Sox, Los Angeles Dodgers, Atlanta Braves, San Francisco Giants and San Diego Padres.
• The agreements include in-stadium branding, logos on signage in and outside the stadiums, online promotions and in some cases, club-specific offers for fans in the Kalshi app.
• Kalshi has actively sought brand partnerships with global sporting events and teams. Its FIFA World Cup collaboration helped it rake in a revenue windfall earlier in the year.
• The prediction market startup, however, has been in the eye of the storm in several states in the U.S. over gambling laws regarding contracts on sports.
• The company is still in talks with MLB about a league-level deal, it said.
• Partnership with Dodgers will include Kalshi-branded LED signage around Dodger Stadium, the company said, and fans will have access to Dodger-specific offers in the Kalshi app and exclusive on-site activations throughout the season.
(Reporting by Pritam Biswas in Bengaluru; Editing by Shinjini Ganguli)
