ProphetX has joined forces with Players’ Lounge to unveil regulated sports prediction markets on the Players’ Lounge platform.
This collaboration allows Players’ Lounge users to leverage ProphetX’s prediction market exchange, enabling them to trade event contracts that cover NFL games, NBA player props, tournament brackets, championship futures, international soccer, and many other sports. This exchange operates under ProphetX’s infrastructure, which adheres to the regulations set by the Commodity Futures Trading Commission (CFTC) as a designated contract market (DCM) as well as a derivatives clearing organization (DCO).
In contrast to conventional sportsbooks, ProphetX stands out as an exchange where users can buy and sell contracts directly, allowing market participants to determine prices rather than relying on bookmakers to set the odds.
Jake Benzaquen, Co-Founder and Chief Commercial Officer of ProphetX, stated that this partnership brings exchange-based prediction markets to the Players’ Lounge community comprised of competitive gamers and sports enthusiasts.
“This community merits access to the most competitive and transparent markets available — and that’s precisely what ProphetX delivers,” Benzaquen emphasized. “This isn’t merely sports betting with a new twist. It’s a federal exchange where the crowd establishes the pricing, ensuring everyone competes on equal ground.”
Austin Woolridge, CEO of Players’ Lounge, mentioned that the integration aligns with the platform’s mission of promoting skill-based competition by providing users with a regulated marketplace for trading based on sports outcomes.
“Prediction markets within ProphetX perfectly align with the core philosophy of Players’ Lounge: leveraging your knowledge in a fair and skill-oriented environment,” Woolridge remarked. “We are thrilled to offer our community a regulated, exchange-based method of trading during their favorite games.”
The partnership gains significance as prediction markets continue to rise in popularity in the US, thanks to recent regulatory changes and new integrations from various financial and gaming platforms. They pointed out Kalshi’s landmark court decision granting federal CFTC oversight, along with Robinhood, Coinbase, PrizePicks, and Webull rapidly deploying prediction market features as notable drivers for sector growth.
Since its inception in 2016, Players’ Lounge has managed over $250 million in skill-based gaming wagers and caters to players across various games, including Madden NFL, NBA 2K, Call of Duty, and Fortnite.
Eligible users in supported US jurisdictions can now engage in prediction market trading after completing Know Your Customer (KYC) verification. The companies mentioned that more products and markets will be launched in preparation for the upcoming NFL season.