Sportradar Revenue Jumps 19% on Polymarket and Kalshi Deals
Prediction market partnerships drive €378m quarter, but a €4m net loss clouds the results.
Sportradar posted €378m in Q2 2026 revenue — a 19% year-on-year rise — driven by new multi-year data agreements with prediction market operators Polymarket and Kalshi, though the Switzerland-headquartered firm swung to a €4m net loss for the quarter, per SBC News.
Why It Matters
Sportradar's deals with Polymarket and Kalshi signal that prediction markets have crossed a threshold: they now require institutional-grade sports data infrastructure, not just price feeds. For operators in the space, this raises the floor on data costs and competitive moats simultaneously. Adjusted EBITDA grew 19% year-on-year to €76m (up from €64m in Q2 2025), confirming the top-line growth is operationally real — but the net loss flags that investment spending is outpacing earnings conversion. Anyone building on prediction market rails should watch whether Sportradar's cost base stabilises or continues to pressure margins.
Context
As of August 2026, Polymarket and Kalshi rank among the largest prediction market platforms by volume globally, having expanded aggressively following US regulatory clarification on event contracts. Sportradar, listed in the US and headquartered in Switzerland, supplies real-time data and integrity services to sportsbooks and sports federations worldwide. Adding prediction markets as a client vertical diversifies its revenue mix beyond traditional sportsbook licensees.
What's Next
Investors will focus on whether Sportradar can convert the prediction market revenue ramp into net profitability over H2 2026. The firm's full-year guidance update — expected alongside its next earnings release — will indicate how quickly it expects to close the gap between EBITDA growth and bottom-line losses.
Gambling involves financial risk. Data cited from SBC News, published 3 August 2026.
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