CEO Jason Trost recently shared that the company is aiming for a license from the US derivatives regulator, the CFTC. This is a move to evolve Smarkets into a wider trading platform where users can trade stocks, bonds, options, and prediction markets. Smarkets currently regulates and facilitates an impressive Sportsbook (the Indiana-based SBK).
Trost's recent interview comments suggest this is a well-considered move. He said, "With what Kalshi has done in blowing the regulatory door open, it's a no-brainer for us as a business to get a CFTC license."
He added,
"I want [it] to be Smarkets in the US as an exchange, and people can trade futures exchange events. My long-term vision for Smarkets is to turn it into a general trading platform. If you want to trade stocks, bonds, options, prediction markets – you can do that with Smarkets."
From what it sounds like, Trost has put his cards on the table here. With his vision set on the CFTC licence, it’s hard to imagine anything less than this future model of exchange materialising for Smarkets. It’s also a mighty way to make a grand introduction into the US market, with only a little action needed from Smarkets' end
Trost continued,
"There's a 100% chance we will be able to offer politics. I believe that this is interesting, if you can do politics. It's only interesting in the US once every two years."
He further stated,
"I still think it's worth doing even if we don't get sports. It's one billion per cent a no-brainer with sports, but I think it's a 100% no-brainer with politics. We are going to apply for a license, whether sports get struck down or not."
This statement solidifies Trost’s drive for this level of expansion. From what it sounds like, there’s not much that can get in the way of this diversification. For sports betting fans, this change could be a major blow, but if the CFTC licence goes through without sacrificing their most popular facility, then you can expect Smarkets to steamroll through and past other trading platforms.
This is a considerable step into the future for Smarkets! It means we're looking at a much more diverse and comprehensive trading platform, potentially opening up a wider range of investment opportunities beyond just sports betting. For users interested in a trading experience with this level of completeness, Smarkets could soon provide a single, streamlined platform for a diverse range of financial solutions, including political event contracts, which Trost believes will be a significant offering. These progressive steps sound like a step in the right direction for Smarkets. One potential issue could be a misalignment of focus, moving from their original operations. As long as this isn’t the case and procedures remain robust, I see no reason why this platform shouldn’t become a major player in the derivatives trading market. There aren’t many companies that can facilitate this level of branching out, but if anyone can do it, it’s Smarkets.
Irishluck's Take on Smarket's Move
From where I’m standing, this move by Smarkets feels like a smart, timely leap. Jason Trost clearly isn’t just throwing ideas at the wall, going after a CFTC licence shows he’s serious about turning Smarkets into a full-scale trading platform, not just a betting exchange. What stands out most is his confidence. Whether or not they get the green light for sports, he’s going ahead with political markets, and that says a lot about the long game he’s playing. He sees real opportunity beyond the sportsbook, and with the regulatory doors now cracked open thanks to Kalshi, the timing couldn’t be better.
That said, there’s always a risk when companies expand too fast. But if Smarkets can hold onto what made it great while branching out, I don’t see why it couldn’t become a major player in US trading. This isn’t just about betting anymore — it’s about building something bigger.
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Sports & sportsbook expert of 8 years. Specialising in a subject close to her heart, sports, Siobhan informs online sports betting fans about the latest news & best sports betting sites.
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