Community members who compete for real money in video games including Madden NFL, NBA 2K, Fortnite, Call of Duty, and other titles now have access to sports trades via a partnership with ProphetX. While gamers at Players’ Lounge won’t have access to many sports at launch, markets are expected to expand to include baseball, ice hockey, MMA, and golf in coming months.
ProphetX is a CFTC-regulated prediction market exchange that focuses on peer-to-peer trades as opposed to traditional sportsbook bets, which are made against a “house.” Players’ Lounge includes a community of more than 1 million gamers and has processed more than $250 million in skill-based gaming wagers while distributing upward of $200 million in cash prizes to competitive video game players.
In an official press release published on Thursday, both parties hailed the partnership as an important achievement for their respective platforms.
“Players’ Lounge has built something genuinely rare: a platform where a new generation of sports fans already shows up, competes, and has real money on the line,” said ProphetX Co-Founder and Chief Commercial Officer Jake Benzaquen. “That community deserves access to the most competitive, transparent markets on the planet — and that’s exactly what ProphetX provides. This isn’t sports betting dressed up in new clothes. It’s a federal exchange where the crowd sets the price and every participant is on a level playing field.”
Players’ Lounge CEO Austin Woolridge added that “prediction markets on ProphetX are a perfect fit for what Players’ Lounge is all about: putting your knowledge to work in a fair, skill-driven environment. We’re excited to give our community a regulated, exchange-based way to trade on the games they care about most.”
Due to ongoing legal battles related to sports event contracts, the ProphetX prediction platform won’t be accessible to Players’ Lounge members in all states. Contracts are also restricted to NFL, NBA, and international soccer markets only, although more markets are anticipated by this coming September.
Traditional skill-game wagers will continue to be processed independently by Players’ Lounge, while all prediction market trades will be cleared by ProphetX. To participate in prediction markets, Players’ Lounge members will be required to create a new account and pass Know Your Customer (KYC) verification before their new prediction trading accounts can be activated.
Participants must be at least 18 years of age to engage in any prediction markets powered by ProphetX. This minimum age requirement may be elevated to 19 or 21, depending on which jurisdiction the account holder is located in.
ProphetX prediction markets are geofenced to block all customers in the state of Nevada. Players’ Lounge members may also have issues accessing the new prediction markets if they are located in Connecticut, Illinois, Arizona, Massachusetts, Michigan, or Minnesota.
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