Oath Of Steel

What is Oath Of Steel?

Added Bender: Genius’ recent deals with Kalshi and Polymarket “have provided an incremental positive catalyst for [Legend founder] Mr Kisberg and team”.

“We think investors will be looking for signs that Genius can leverage Legend’s relationship to capture a larger share of the rapidly expanding sports betting and prediction market opportunity,” he aded in a note this week.

Genius founder and CEO Mark Locke this week touted Genius’ position as a provider of official data, settlement and integrity services to both traditional betting and predictions platforms.

What is Oath Of Steel?

Some exchange operators already filed plans to introduce KPI-linked event contracts. Those derivatives would be tied to metrics such as corporate earnings or, in more nuanced cases, Apple iPhone shipments or Tesla deliveries — just two examples — in a given quarter.

While sports event contracts remain the headline-grabbers for prediction market operators, there’s evidence that other categories are experiencing growth. As Bernstein points out, cryptocurrency event contracts account for at least 20% of the turnover on the two largest prediction markets.

In another encouraging non-sports sign, one of those operators notched just $2 million in commodities volume last year, but that figure surpassed $410 million in August alone and is approaching $600 million on a year-to-date basis.

How to play Oath Of Steel

The company cited a 100% uplift in Mexico’s average audience versus the 2022 World Cup, which had led to “excellent new customer acquisition” during the tournament.

The supplier’s total B2B revenue increased 14% YoY to €394.8 million, while adjusted EBITDA
increased 75% to €128.1 million.

The only market to report a loss for B2B during the period was the UK, down 8% to €59 million. Playtech said the market was impacted by “certain customer-specific changes and increased Remote Gaming Duty”.