InPlay Global Partners with MEMX to Launch Revolutionary Sports Trading Platform

InPlay Global teams up with MEMX to develop a new trading platform focused on 'performance securities' tied to sports teams. This collaboration comes amid booming U.S. sports betting and challenges the traditional monopoly of gambling businesses. InPlay plans to launch the innovative platform pending regulatory approval.

InPlay Global, a pioneering platform designed for trading securities linked to sports teams' performance, has inked a strategic partnership with exchange operator MEMX. The collaboration aims to launch a cutting-edge trading venue by next year.

This partnership emerges as the U.S. witnesses a surge in sports betting, driven by lenient regulatory policies during the Trump administration. Emerging platforms like Polymarket and Kalshi are revolutionizing the sports wagering sector, traditionally ruled by gambling giants.

Despite resistance from the gaming industry and some state regulators over event contracts, major financial players see potential in relaxing rules for these markets. In a notable move, Intercontinental Exchange pledged significant investment in Polymarket, highlighting financial institutions' interest.

(With inputs from agencies.)