UFC and Zuffa Boxing’s parent company, TKO Group Holdings (TKO), has signed a multiyear deal with Polymarket in order to offer real-time prediction markets to live combat sports. This makes UFC and Zuffa Boxing the first sports organizations to use this kind of technology during live events. More specifically, Polymarket will display real-time visuals of fan sentiment and momentum shifts during fights, which will provide viewers with a new way to bet on sports.
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Interestingly, Polymarket CEO Shayne Coplan explained on CNBC’s Squawk Box that fans will be able to trade predictions like stocks throughout a fight. As the momentum of the match changes, people can buy or sell their positions based on how they think things will play out. Furthermore, additional options will eventually be added based on feedback from fans in order to make the experience even better.
Separately, TKO CEO Ariel Emanuel said that this new collaboration will give fans a more active role during live UFC and Zuffa Boxing events. Instead of just watching, fans will be able to interact in real time, thereby making the viewing experience more exciting and immersive. It’s worth noting that the partnership comes as Polymarket continues to grow its presence in sports. In fact, the company also signed recent deals with the NHL and PrizePicks.
Is TKO Stock a Good Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on TKO stock based on 14 Buys, one Hold, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TKO price target of $223.53 per share implies 21.2% upside potential.
