Forkast will shut down its esports prediction market platform, the company announced in an Oct. 12 post on X. Withdrawals remain open until 11:59 p.m. UTC on Nov. 9. Automated agent trading pauses on Oct. 15, and markets scheduled to end after Nov. 9 will be canceled and refunded.
The closure falls before the 2026 League of Legends World Championship final, scheduled for Nov. 14 at Barclays Center in Brooklyn. Outright markets on the tournament winner will be refunded rather than resolved.
Forkast did not give a reason for the shutdown. The company said it processed more than $100 million in volume across 1.6 million trades, with more than 10,000 registered traders and more than 1,000 trading agents deployed. The Esports Advocate notes that these figures are the company's own and have not been independently verified.
Forkast was built by Community Gaming, a New York-based esports tournament platform. The Esports Advocate reported that Community Gaming laid off about 17 employees in 2023. Forkast launched on the Ronin blockchain in early 2025. In November 2025, it migrated to Arbitrum and received an undisclosed strategic investment from Arbitrum Gaming Ventures. CEO Chris Gonsalves said in that announcement, "Prediction markets live or die by speed and liquidity." BlockchainGamer reported that Forkast dropped support for its CGX token during the move.
In February, Gonsalves told Esports.net that the US prediction market was "starting to get saturated" and that Forkast would target esports fans outside the US. Brazil and Argentina took action against prediction markets in the following months. Forkast was not named in Brazil's April blocking order. Brazil later banned online betting outright in a Sept. 25 provisional decree, with sites ordered offline by Oct. 6. Forkast's shutdown notice did not mention either country.
Esports Insider reported in August that users traded more than $1.2 billion on esports on Polymarket in the year to July 30, and more than $344 million on Kalshi in the prior 30 days. On Oct. 13, esports match markets on Forkast's homepage each showed between $32 and $605 in trading volume.
Unresolved questions include the reason for the closure, whether the Brazilian and Argentine actions played a role, the future of Community Gaming and its staff, the size of the Arbitrum Gaming Ventures investment, and the status of the GRID data agreement.