Genius Sports CEO Mark Locke said the rapid growth of prediction markets is already validating the company’s acquisition of sports media business Legend, with customer acquisition, official data and commercial partnerships delivering synergies ahead of schedule.
Speaking during the company’s Q2 2026 earnings call, Locke described prediction markets as the “most visible example” of the revenue opportunities created by the acquisition. He highlighted recent commercial agreements with Kalshi and Polymarket alongside growing demand for customer acquisition through Legend.
Genius completed its acquisition of the sports media business on 1 May, in a deal valued at around $1.2bn. Despite having only been part of the wider group for just over three months, it has already had a significant impact not only on current operations but also forward plans.
“The short answer is yes, there is a battle,” Locke said when asked about sportsbooks and prediction markets competing for customers. “Clearly that’s causing the premium space to be elevated in price.
“Through Legend, we now own the best customer acquisition platform out there for any of the prediction markets or sportsbook operators. We’re reaping the rewards on that in quite an immediate and aggressive way. We’re seeing strong growth in the space as a result of it.”
Prediction markets open new revenue streams
Beyond customer acquisition, Locke said prediction markets are creating opportunities across Genius’ wider business.
Alongside helping operators attract new users, the company is supplying official data, pricing services and market-making capabilities. In addition to this, in the past few days, Genius confirmed deals with market leaders Kalshi and Polymarket.
On this, Locke said the company now views leading prediction market platforms in much the same way as tier-one sportsbook operators. He said Genius applies the same long-term commercial strategy across the sector.
Looking ahead, Locke said prediction market revenue was “beginning to structurally rise” for Genius. He added that the company expects “significant upside” in the years ahead across both its betting and media divisions.
“We see this as a real growth opportunity for us,” Locke said. “We believe there is plenty of upside here for us still to come.”
Though clearly optimistic about prediction markets and the future as a whole for Genius, he said the company had taken a conservative approach to forecasting. He noted that Genius did not factor any future NFL prediction market agreements into its financial guidance. That said, such a deal – should it arise – would be “very significant”.
With or without the NFL, Genius’ outlook for 2026 is positive, with the group having raised full-year guidance for the second consecutive quarter. Revenue is now set to hit between $1.01bn and $1.03bn, with adjusted EBITDA forecast at $285m to $295m.
