BetMGM & Cheddar News Launch Innovative Prediction Market

BetMGM & Cheddar News Forge Innovative Prediction Market Venture

In the dynamic world of sports betting and financial forecasting, a groundbreaking collaboration has emerged between BetMGM and Cheddar News, heralding the launch of a unique venture named Cheddar Bets. This partnership not only signifies a significant step in the evolution of sports betting but also marks BetMGM’s entry as Cheddar News’ official betting partner. Launched with an eye towards providing comprehensive coverage of sports betting, Cheddar Bets aims to delve into the broader implications of this rapidly growing industry, examining its impact across various sectors.

Cheddar Bets premiered on August 19, 2021, as a weekly program airing Thursdays at 4:30 p.m. ET on Cheddar News; the show was produced from a custom-built BetMGM-branded studio and BetMGM was named the exclusive sports-betting partner of Cheddar News.

The venture officially took to the airwaves on August 19, 2021, establishing a dedicated slot every Thursday at 4:30 PM ET on Cheddar News. The goal of Cheddar Bets is not merely to predict outcomes of sporting events but to offer a holistic view of the sports betting landscape, exploring how its proliferation affects different industries. This innovative approach to sports betting and prediction markets places Cheddar Bets at the forefront of a burgeoning industry that continues to captivate bettors, investors, and analysts alike.

The Growing Landscape of Prediction Markets

The partnership framed Cheddar Bets as exploring the intersection of sports betting and financial markets, including impacts on technology, regulation and Wall Street, with BetMGM providing access to its oddsmakers for behind-the-book insights.

As we navigate through 2025, the prediction industry has witnessed remarkable growth, transforming from a niche sector into a substantial ecosystem of companies. These enterprises thrive by enabling individuals to profit from their foresight regarding future events. While sportsbooks represent the most recognizable entities within this space, the prediction market encompasses a broad spectrum of companies, including those like Kalshi, which has introduced a new derivative based on predictions about major world events.

This diversification and expansion of the prediction market underscore the importance of platforms like Cheddar Bets. By offering in-depth analysis and coverage of both sports betting and the wider prediction market, Cheddar News has positioned itself as a pivotal resource for those seeking to understand the intricacies of these industries. As the prediction market continues to evolve, the insights provided by Cheddar Bets could prove invaluable for bettors, investors, and analysts aiming to stay ahead of the curve.

BetMGM’s Strategic Partnership Leverage

Cheddar Bets was hosted on launch by Hana Ostapchuk, who was announced as the program’s host for the August 19 premiere.

In its quest to dominate the sports betting arena, BetMGM has demonstrated an unparalleled ability to secure strategic partnerships, thereby enhancing its offerings and expanding its reach. Among these collaborations is a notable partnership with Audacy, a leader in sports radio and broadcasting, and an alliance with TopGolf, which has bolstered BetMGM’s simulcasting capabilities. Furthermore, in January, BetMGM joined forces with The Athletic, creating synergistic opportunities for both entities to deliver comprehensive sports coverage.

Industry reporting at the time placed Cheddar Bets within a broader rise of prediction-market coverage and partnerships by sportsbooks, noting BetMGM’s concurrent partnership activity (for example with The Athletic and Audacy) as part of a wider content and distribution strategy.

What sets BetMGM apart in the competitive landscape of sports betting is its proactive approach to forging meaningful connections across the sports industry. This extensive network of partnerships not only amplifies BetMGM’s capabilities but also underscores its commitment to innovation and excellence. As the company continues to explore new frontiers, its strategic alliances are likely to play a pivotal role in shaping the future of sports betting and prediction markets.

Kalshi is an example of a regulated prediction-market-like exchange in the U.S. that has offered event-based contracts (including macro/world-event derivatives), illustrating one strand of diversification within the prediction-market ecosystem referenced in the article.

In conclusion, the partnership between BetMGM and Cheddar News through the Cheddar Bets venture represents a significant milestone in the evolution of sports betting and prediction markets. By offering a nuanced exploration of the industry’s impact across various sectors, Cheddar Bets is set to become an indispensable resource for anyone interested in the dynamics of betting and financial forecasting. As we look to the future, the continued growth and innovation within this space promise exciting developments for bettors, investors, and analysts alike.