Fox Partners with Kalshi to Boost Stock Price
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 days ago
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Should l Buy FOX?
Source: Yahoo Finance
- Stock Price Surge: Fox (NASDAQ:FOXA) shares rose 3% in the afternoon session, primarily driven by the integration of live prediction-market data from Kalshi, which is seen as the main catalyst for the stock's increase.
- Wide Integration Scope: The partnership with Kalshi will span across FOX News, FOX Business, FOX Weather, and FOX One, aiming to enhance on-screen engagement and create new opportunities for sponsored data placements, thereby making its programming more appealing.
- Strong Financial Performance: Fox's recently released Q3 2025 earnings report showed total revenue of $3.74 billion, a 4.9% year-over-year increase, surpassing analyst estimates of $3.57 billion, with adjusted earnings per share at $1.51, significantly exceeding the consensus forecast of $1.10.
- Stable Market Performance: Despite a 16% decline in stock price since the beginning of the year, Fox's shares have shown low volatility with only five moves greater than 5% in the past year, indicating that the market considers this news significant, although it may not fundamentally alter perceptions of the business.
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Analyst Views on FOX
About FOX
Fox Corporation produces and distributes news, sports, and entertainment content through its primary domestic brands, including FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations and Tubi Media Group. Its operating segments include Cable Network Programming, Television, Credible and the FOX Studio Lot. Cable Network Programming produces and licenses news and sports content distributed through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors and other digital platforms. Television produces, acquires, markets and distributes programming through the FOX broadcast network, advertising supported video-on-demand service Tubi, approximately 29 full power broadcast television stations, including 11 duopolies, and other digital platforms. The FOX Studio Lot provides television and film production services. Credible is a United States consumer finance marketplace.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Stock Price Surge: Fox (NASDAQ:FOXA) shares rose 3% in the afternoon session, primarily driven by the integration of live prediction-market data from Kalshi, which is seen as the main catalyst for the stock's increase.
- Wide Integration Scope: The partnership with Kalshi will span across FOX News, FOX Business, FOX Weather, and FOX One, aiming to enhance on-screen engagement and create new opportunities for sponsored data placements, thereby making its programming more appealing.
- Strong Financial Performance: Fox's recently released Q3 2025 earnings report showed total revenue of $3.74 billion, a 4.9% year-over-year increase, surpassing analyst estimates of $3.57 billion, with adjusted earnings per share at $1.51, significantly exceeding the consensus forecast of $1.10.
- Stable Market Performance: Despite a 16% decline in stock price since the beginning of the year, Fox's shares have shown low volatility with only five moves greater than 5% in the past year, indicating that the market considers this news significant, although it may not fundamentally alter perceptions of the business.
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- Data Integration Partnership: Kalshi has partnered with Fox Corporation to integrate its data across FOX News, FOX Business, FOX Weather, and the FOX One platform, thereby expanding real-time forecasting insights across the media network and enhancing user experience and content quality.
- Real-Time Data Visualization: Kalshi will collaborate directly with FOX's data and production teams to provide real-time data access, ensuring seamless data visualization around key political, economic, weather, and cultural storylines, which enhances content interactivity and appeal.
- Importance of Prediction Markets: Paul Cheesbrough, CEO of Tubi Media Group, emphasized that prediction markets have quickly become an essential data point and a compelling new experience within their live content portfolio, highlighting their strategic value in the media industry.
- Court Ruling Impact: A three-judge panel of the Philadelphia-based 3rd U.S. Circuit Court of Appeals ruled that the U.S. Commodity Futures Trading Commission has exclusive jurisdiction over the sports-related event contracts that Kalshi allows people to trade on its platform, which will impact Kalshi's operational model and market competition strategy.
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- Data Integration Partnership: Kalshi has partnered with Fox Corporation to integrate its prediction market data across FOX News Channel, FOX Business Network, and FOX Weather, aiming to enhance audience understanding of news through the wisdom of crowds and accurate event forecasting.
- Growing Market Influence: Kalshi's data has been recognized by institutions like the Federal Reserve as 'valuable to researchers and policymakers,' indicating its increasing influence in political, economic, and cultural spheres, thereby solidifying its leadership in the prediction market.
- User Access Trends: Millions visit Kalshi each month, with approximately 70% primarily checking market odds rather than trading, highlighting the high interest in predictive data and underscoring Kalshi's role in enhancing information transparency.
- Enhanced Content Richness: By integrating real-time data with FOX, Kalshi not only provides deeper insights for viewers but also enriches the user experience on the FOX One streaming platform, allowing audiences to engage more dynamically with significant news events.
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- New Ad Formats Launched: Tubi has introduced new interactive ad formats including Scene Sense, Interactive Pause Ads, and Connected Conversions, which are expected to enhance user experience and improve advertising effectiveness, thereby attracting more brands to advertise on the platform.
- Strategic Partnership Expansion: The partnership with Amazon allows Tubi advertisers to reach unique audiences through Amazon DSP, with 10% of Tubi's users being unique across Amazon's open internet streaming supply, thus enhancing ad precision and effectiveness.
- Exclusive Sports Culture Content: Tubi is collaborating with Apple TV to offer exclusive live F1 altcasts, aimed at attracting younger audiences and broadening F1's appeal, while also launching original programs from creators Deestroying and Jesser to further enhance content attractiveness.
- New Original Shows Coming: Tubi is set to launch original shows targeting Gen Z, such as GAME ON and REMEMBER ME, which will enrich its content library and attract younger viewers, expected to drive user growth and viewing time.
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- Partnership Negotiations: Fox is in serious discussions with prediction market exchange operator Kalshi for a significant partnership that, if finalized, will include Fox News but exclude Fox Sports programming, indicating strategic positioning in the media landscape.
- Election Trading Relevance: This partnership is particularly relevant for trading on midterm elections, as Fox News is the most-watched cable news network in the U.S., which is expected to attract significant user engagement in election-related trading activities, enhancing its market influence.
- Legal Challenges: Kalshi and other prediction market platforms are embroiled in dozens of lawsuits across the U.S. as states attempt to curb what they consider illegal gambling, which could impact their operational capabilities and market expansion.
- Funding and Valuation: Kalshi and its main competitor Polymarket raised billions last year and are in talks with investors to raise additional capital at potential valuations of $20 billion, reflecting the growth potential of prediction markets and investor confidence.
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