Genius CEO confirms battle between sportsbooks and prediction markets for customers

Genius Sports CEO Mark Locke has confirmed that sportsbooks and prediction markets are locked in a direct battle for customers. Speaking on the company's Q2 2026 earnings call, Locke said the competition is driving up the price of premium acquisition space.

The admission came as Locke pointed to prediction markets as the most visible validation of Genius's $1.2bn acquisition of Legend, completed on 1 May. Despite only three months of integration, the deal is already delivering synergies ahead of schedule.

"The short answer is yes, there is a battle," Locke said. "Clearly that's causing the premium space to be elevated in price."

For Malta's iGaming ecosystem, the message is clear. Customer acquisition costs are rising across the board as prediction market platforms like Kalshi and Polymarket compete directly with traditional sportsbook operators for the same user base.

Locke argued that Legend gives Genius a decisive edge. "Through Legend, we now own the best customer acquisition platform out there for any of the prediction markets or sportsbook operators," he said. "We're reaping the rewards on that in quite an immediate and aggressive way. We're seeing strong growth in the space as a result of it."

Genius is not just a platform provider. The company is also supplying official data, pricing services, and market-making capabilities to prediction market operators. Recent commercial agreements with Kalshi and Polymarket confirm the strategy is already operational.

Locke said Genius now treats prediction market platforms as equivalent to tier-one sportsbook operators in terms of long-term commercial strategy. The company expects prediction market revenue to rise structurally across both its betting and media divisions.

"We see this as a real growth opportunity for us," Locke said. "We believe there is plenty of upside here for us still to come."

In Malta, where iGaming operators, suppliers, and affiliate networks form a dense commercial cluster, the Legend acquisition serves as a case study in vertical integration. Owning the acquisition funnel is rapidly becoming the differentiator in a fragmented digital gambling market.

Genius has taken a conservative stance on forecasting despite the optimism. Locke said the company did not factor any future NFL prediction market agreements into its financial guidance, but noted that such a deal would be "very significant" if it materialises.

The company raised full-year guidance for the second consecutive quarter. Revenue is now expected to land between $1.01bn and $1.03bn, with adjusted EBITDA forecast at $285m to $295m.