MLB has had a long stance against gambling, banning players for betting on MLB, including the legendary ban of Pete Rose. Still, leagues have started to embrace the sports betting landscape, such as the NCAA looking at removing restrictions on pro sports gambling.

Now, MLB has embraced gambling-adjacent, agreeing on a $300 million deal with Polymarket, per Ben Horney of Front Office Sports.

Polymarket is not a transitional sportsbook; it is a predictive exchange market. A market provides a simple yes/no question. For example, who will win between the Minnesota Twins and the Boston Red Sox? A person then buys a share at a set price. The share on the Twins is at 45 cents per share. Meaning, if a person buys a share for 45 cents and the Twins win, they can redeem that share for $1, netting them 55 cents. Conversely, a share of the Red Sox winning is 58 cents. If a person buys a 58-cent share and the Red Sox win, they can redeem that share for $1, netting 42 cents.

If the wrong side is purchased, then the share becomes worth nothing. While not gambling officially, it is nearly identical, with the market deciding the line. Fans have made immediate remarks on this on X, formerly Twitter, because of the connection to gambling and Rose.

Article Continues Below

Pete Rose is on the permanently banned list, meaning the man who was a 17-time all-star, three-time World Series Champion, and the all-time leader in hits and games played, is not in the Hall of Fame. Still, MLB has decided to get into business with a prediction market. MLB has previously warned its players in a memo about prediction markets, according to Bradford William Davis of Front Office Sports.

“The league firmly instructed players against ‘participating in ‘prediction markets’ to risk money on any outcome related to baseball games or events,' framing involvement as a violation of its longstanding sports betting policies,” Davis wrote.

For now, players cannot enter into the prediction market, but with this deal, only time will tell if that changes.