Plus500, one of the United Kingdom’s leading financial trading firms, has announced plans to expand its presence in the United States by launching sports betting-style products tied to prediction markets during the ongoing World Cup. The company revealed it will provide customers access to contracts offered via Kalshi, a New York-based prediction market exchange, allowing users to trade on outcomes of major American sports events including the National Football League (NFL), National Basketball Association (NBA), and Major League Baseball (MLB).
Prediction markets enable participants to speculate on the likelihood of future events across various domains such as sports, politics, and culture. Instead of traditional gambling, these platforms function as peer-to-peer markets where traders buy and sell contracts that settle based on the outcome of specified events. Kalshi and its competitor Polymarket have emerged as significant players in this space, with trading volumes on both platforms reaching $24 billion in April, according to the Pew Research Center.
Plus500 described sports-related contracts as “the defining category in prediction markets” and expressed confidence that the company is “positioned at the centre of this opportunity.” The firm has been broadening its US operations since acquiring Cunningham, a futures commission merchant and trading platform, in 2021. Currently, approximately 15 percent of Plus500’s revenue is generated from the US market.
Industry analysts have welcomed the move. Analysts at Jefferies noted that Plus500’s partnership with Kalshi “expands the company’s addressable market further and in time to cover the rest of the football World Cup,” highlighting Kalshi’s leadership with over $10 billion of sports prediction contracts traded in May alone. Bank of America analysts described the initiative as “an important product offering expansion,” pointing out that sporting event contracts account for about 85 percent of volumes in prediction markets. They added that trading volumes have seen “exceptionally high” growth since the World Cup began, with week-on-week increases of 40 percent over the past two weeks.
David Zruia, Plus500’s chief executive, characterized the launch as “an important milestone” driven by the company’s technological capabilities and infrastructure. He emphasized that this development “advances our next-generation prediction markets offering and brings Plus500 directly to the heart of the US retail market,” targeting fast-moving and engaging sectors such as the NFL, NBA, and MLB.
Founded in Israel, Plus500 specializes in offering contracts for difference (CFDs), allowing retail investors to speculate on price movements without owning the underlying assets. The company serves more than 30 million account holders worldwide. While the platform clarifies that 76 percent of retail investor accounts lose money trading its contracts, Plus500’s shares have nonetheless gained over 30 percent this year, buoyed by increased market volatility linked to artificial intelligence developments and geopolitical tensions, including the ongoing US-Iran conflict. Following the announcement, Plus500’s stock rose by 1 percent to £47.32.