Media brands are collaborating with Galactic to launch the "unmanaged platform" SI Predict in the second quarter.
Sports Illustrated was once one of the most famous brands in the sports media world.
Times have changed, and the media field has become bland, but apparently some still believe the letters "SI" carry prestige. A press release this week announced the upcoming launch of an SI-branded betting platform—this is the second attempt of its kind.
The announcement revealed plans to launch SI Predict in collaboration with Galactic. This will be the latest in a series of websites/apps that facilitate exchange-style betting without the need for individual state regulation.
Like Kalshi, Crypto.com, Robinhood, and other companies that offer forms of sports betting—they are reluctant to call it "sports betting," but the basic point is that customers can directly place money on sports-related outcomes—SI Predict intends to operate without obtaining a license from national gambling regulators.
Instead, as Galactic CEO Stuart Stott revealed to Bloomberg, SI Predict plans to comply with the regulations of the Commodity Futures Trading Commission—although "as an unmanaged platform, it does not need to be regulated." It is not yet clear whether the company will apply for a designated contract market license as an exchange operator.
In 2021, the fully regulated SI Sportsbook, in collaboration with 888, launched in Colorado, Virginia, and Michigan. The operator hoped to expand to several other states but never did, nor did it attract many customers. In 2024, the decision was made to shut down SI Sportsbook. It withdrew from Colorado and Virginia last year and is now also out of business in Michigan.
Galactic is optimistic about this SI brand approach to lowering barriers to entry.
Stott stated in the press release: "Sports viewership is no longer a one-way conversation. Fans want to be involved, they want their opinions to matter. SI Predict completely changes the way sports are engaged with, turning it from passive viewing into an active, influential forum."
The press release defines SI Predict as "a new prediction platform that deepens fan engagement by allowing fans to interact directly with the lifestyle around live sports events."
Galactic plans to launch SI Predict sometime in the second quarter of this year.
