Nate Diaz will return to the octagon for the first time since 2022 on Saturday in style, having secured a partnership with prediction market leader Kalshi.
The “multi-tiered” arrangement with the MMA star will help create billboards, social media campaigns, and additional opportunities for customers.
Key Takeaways
- The partnership will allow Kalshi to use Diaz’s NIL.
- Diaz will wear shorts with Kalshi’s logo in his fight on Saturday.
- Kalshi is still considerably ahead of its top rival, which expanded its operations this week.
Kalshi confirmed its agreement with Diaz in an announcement on Wednesday, just three days before Diaz stars in a “triple main event” in Los Angeles.
“Nate Diaz is one of the most authentic, fearless competitors in sports,” said Valeria Vouterakou, counsel at Kalshi. “He’s exactly who we want representing the brand.”
Securing the partnership allows Kalshi to further dive into the world of combat sports by authorizing the platform to leverage Diaz’s name, image and likeness (NIL) on advertising mediums, such as billboards, digital marketing initiatives, and social media posts. The aim is to give Kalshi a higher chance of acquiring and converting new audience members.
Additionally, branded merchandise will be created for Kalshi and Diaz, who was pictured wearing a Kalshi cut-off t-shirt in the announcement. Kalshi will also sponsor Diaz in his fight this weekend.
“Kalshi came in and showed the love and support for me for this fight and the overall brand,” Diaz said in the announcement. “It’s good to be in business with them.”
The financial terms of the arrangement were not disclosed. The deal was brokered by combat sports executives Andrew Capucetti, Brad Baskin and Zach Rosenfield.
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Kalshi, Diaz take center stage
With the Kalshi partnership secured, Diaz is about to take part in one of the largest fight events of the year, MVP MMA 1.
Known as “Rousey-Carano” for the evening’s final fight between Ronda Rousey and Gina Carano, the card also features Diaz against bare knuckle boxer Mike Perry, and former UFC Heavyweight Champion Francis Ngannou and challenger Philipe Lins, among other fights throughout the night.
Diaz, 41, was last in the octagon for a September 2022 victory via submission against Tony Ferguson. He has a career record of 22-13.
Perry, 34, lost both of his most recent MMA fights, the last of which occurred in April 2021. He has competed in bare knuckle boxing since.
Despite that, Kalshi believes that Diaz only has a 38% chance of winning the fight. Contracts for Diaz to win can be purchased for $.38 and will pay $1 each if he wins.
Diaz, the underdog, will enter the cage wearing shorts that will flash Kalshi’s green logo on the waistline along the backside.
Additional prediction markets are available for the fight, including the method of victory and the round of victory.
Polymarket bringing the heat
Kalshi is the largest operator in the prediction industry. However, this week’s prediction market news was dominated by its main competitor, Polymarket.
The once-banned outlet this week removed its waitlist and opened its iOS platform for U.S. users. Customers may not buy and sell contracts in sports markets, including MMA, adding more competition to the competitive industry space.
Polymarket is already America’s second-largest prediction operator, despite having operated in a limited capacity with as many as 1.4 million customers waitlisted. However, its approximate $50 million in average daily trading volume over the last week is still considerably less than Kalshi’s was.
