Image credit: Source: Sportradar Group AG second quarter 2026 results announcement. Never imply stock depicts the actual event.
Sportradar signed both Kalshi and Polymarket as prediction market data clients, the company disclosed alongside second quarter 2026 results on 3 August 2026, positioning itself as the supplier to both sides of a fight over who owns America's newest betting category. The multi-year Kalshi deal makes Sportradar an official data and solutions provider to the sector's largest venue; the Polymarket agreement, run jointly with Tennis Data Innovations, secures exclusive ATP Tour streaming rights alongside data, odds and integrity services.
Revenue for the quarter rose 19% to €378 million, with adjusted EBITDA up 19% to €76 million, a 20.2% margin. The company posted a €4 million loss for the period, down from a €49 million profit a year earlier, entirely because of a €9 million foreign-exchange loss on dollar-denominated sports rights versus a €54 million gain in the same quarter of 2025. Strip out currency swings and the underlying business grew at the same clip it has all year.
Selling data to both sides of the prediction market fight
Sportradar is not picking a winner between Kalshi, Polymarket and the roughly dozen other US venues chasing the category. It is selling to all of them. The Kalshi agreement covers premium data, odds, fan engagement, customer acquisition and integrity services for major sports properties, and lets Sportradar strike separate deals directly with Kalshi's own market makers and brokers, a second layer of distribution most data suppliers never reach. The Polymarket deal adds official data and live odds on top of the ATP streaming rights, the same playbook Sportradar already runs for licensed sportsbooks, now sold into an adjacent category regulated by the Commodity Futures Trading Commission rather than state gambling regulators.
That neutrality is the business model. Chief executive Carsten Koerl said the quarter's growth reflected "strong demand for our premium content, data and technology solutions, including increased monetization of our IMG ARENA rights portfolio," while the company "deepened relationships across our unparalleled global distribution network." Sportradar does not need Kalshi to beat Polymarket, or either to beat the sportsbooks that see prediction markets as a structural threat to their own parlay business. It needs both to keep trading.
Wimbledon and IMG ARENA still carry the base business
Alongside the prediction market deals, Sportradar extended its agreement with the All England Club for exclusive global distribution of official Wimbledon data and audiovisual betting rights, a rights package it picked up through the IMG ARENA acquisition and is now renewing on its own terms. It also expanded Playradar, its iGaming product connecting sports betting and casino, adding a 24/7 live experience and historical sports games, and picked up new regulatory licenses across South America, Europe and Canada, with more planned in Europe and several US states.
Betting Technology & Solutions, the segment that carries the new prediction market work alongside traditional sportsbook data, grew 21% to €314 million, driven by a 27% jump in Betting & Gaming Content. Managed Betting Services was flat as higher trading margins offset lower platform revenue, a sign operators are increasingly running Sportradar's pricing tools on their own infrastructure rather than paying for a full managed service. US revenue grew 16% to €102 million but slipped to 27% of total revenue from 28% a year ago, a reminder that Sportradar's growth is now more global than American even as the prediction market story plays out almost entirely on US soil.
Sports Content, Technology & Services, the smaller of the two segments, grew 9% to €64 million. Marketing & Media Services rose 16% on new media and technology customers and higher affiliate marketing spend, offsetting a decline in the Sports Performance business that Sportradar attributed largely to currency, not demand. It is a minor line next to the prediction market headlines, but it is the part of the business least exposed to how the Kalshi and Polymarket relationships eventually play out.
The balance sheet backs the bet
Sportradar has no debt and €251 million of cash, plus an upsized €250 million revolving credit facility now running to 2031 at lower fees. It bought back $140 million of shares in the quarter alone and $422 million since a program that has grown from $200 million in March 2024 to a $1 billion authorization as of February 2026. That is a company funding an aggressive land grab into a legally unsettled category while still returning cash to shareholders, a balancing act few prediction market pure-plays can match.
Sportradar raised its full-year outlook to 19-21% constant-currency revenue growth, translating to €1.518-1.533 billion at current exchange rates, with adjusted EBITDA growing 24-27% to €360-368 million. None of that guidance assumes the prediction market deals fail to close or the regulatory fights over what these contracts actually are get resolved against the industry. If they do, Sportradar's neutral-supplier position means it collects a fee regardless of which side of the fight is still standing.
Whoever loses the fight still pays Sportradar
The company that wins the prediction markets war has not been decided. The company selling the data everyone needs to fight it already has.