"Kalshi to Introduce NFL Season Pre-Match Wagers Akin to Parlay Betting Prior to Kickoff"
The upcoming NFL season, starting on September 4, is set to see a new addition to the sports betting landscape. Kalshi, a prediction market platform, is planning to launch its new product, "Will happen in?" – a range of parlay-like contracts covering various possibilities in NFL games.
This move, if successful, could mark an important step in adapting the parlay format to a regulated prediction market, potentially offering a new way for users to make money. The regulatory authority behind this introduction is the Commodity Futures Trading Commission (CFTC), which has not intervened to stop Kalshi's self-certified contracts.
Parlays, known for their higher hold percentages compared to straight bets, have a significant impact on gambling operators' profits. Kalshi's new contracts will follow a similar structure, with payouts calculated by multiplying the odds of each part and rounding down to the nearest penny. Offering packaged parlays might appeal to customers seeking bigger payouts than single-event contracts.
To avoid cash shortages experienced with earlier multi-event bets, such as those offered for award shows like the Oscars and Grammys, Kalshi will use an exchange setup where each part of the bet must have active money in the market.
The new product is expected to further mix financial-style trading platforms with traditional sports betting. However, to prevent conflicts of interest or possible manipulation, current and former NFL players, coaches, league staff, and their families are banned from trading these new contracts.
If launched as planned, Kalshi's NFL season parlay markets would be another move in the company's quick growth. In New Jersey, parlay revenue already accounts for almost half of sportsbook revenue despite a small part of total betting handle, indicating a growing interest in these types of bets.
Football-specific contracts will be rolled out immediately, backed by a set of rules called FOOTBALLSTATS. The CFTC has received paperwork from Kalshi seeking approval to offer these contracts, suggesting a high likelihood of approval.
As the NFL season approaches, sports betting enthusiasts can look forward to a new and exciting way to engage with the games – Kalshi's innovative parlay markets.
