Boom Sports will integrate ProphetX’s federally regulated prediction market exchange into its platform, giving users access to sports event contracts covering game results, individual player performance and season-long futures.
The agreement will provide Boom users with a direct in-app route to trade the contracts, with all markets operating through ProphetX’s Commodity Futures Trading Commission-regulated infrastructure.
The partnership brings prediction markets into a platform whose users are already accustomed to decision-based sports products through Boom’s daily fantasy sports offering.
ProphetX operates a two-sided exchange instead of a traditional sportsbook model. Buyers and sellers trade CFTC-regulated derivatives contracts with each other, with market participants setting prices instead of an operator establishing terms and taking the opposite side of each transaction.
“At Boom Sports, we’re creating a destination where sports fans can engage with their favorite players and teams in a variety of ways,” said Boom Sports CEO Stephen A. Murphy. “We’re excited to add prediction markets and partner with ProphetX to bring these offerings to the Boom community.”
Boom Sports, founded in 2015 and headquartered in New York, operates its flagship real-money daily fantasy sports application in 27 states. The company has also developed and powered sports products for organizations including NBC Sports, Caesars Entertainment and Tim Hortons.
The company reported that new customer numbers increased by more than 50% year over year during its latest quarter, while it also recorded its highest monthly revenue in company history.
Boom is now extending its sports offerings into prediction markets, including individual performance and sports outcome markets, as it seeks to expand its reach toward all 50 states.
“Boom has built a loyal community around fast, intuitive, interactive formats — and that same instinct for clear, fast decisions is exactly what makes prediction markets click for a user base like this,” said ProphetX Co-Founder and Chief Commercial Officer Jake Benzaquen.
“Partnering with Boom gives their users direct access to a federal exchange where the crowd sets the price and every participant competes on a level playing field, instead of against the house.”
ProphetX was founded in 2018 and operates as a regulated U.S. exchange for event-driven contracts. The company was established with a sports-focused model. The partnership will place that exchange infrastructure inside Boom’s existing sports platform.