Sportradar signs multi-year sports data deal with Kalshi as shares jump 9.06%

Sportradar reached a multi-year global agreement to supply sports data and related services to prediction market platform Kalshi. After the announcement, SRAD shares rose 9.06% and were trading at $15.16, while Needham lifted its price target to $23 from $19 and kept a Buy rating. Needham also said prediction markets can deliver more revenue per dollar of volume for data providers than traditional sportsbooks.