Fanatics (FANA) announced the launch of a prediction market platform built to let people trade on the moments shaping sports, finance, and culture. The company said Fanatics Markets will introduce customers to markets and pricing offered by Crypto.com | Derivatives North America, a CFTC-registered exchange and clearinghouse. The CFTC-registered derivatives exchange is anticipated to provide institutional-grade infrastructure for Fanatics Markets to deliver a best-in-class customer experience.
Phase One for the platform is already live, with event contracts for sports, finance, economics, and politics. Phase Two, which is launching early next year, will see Fanatics Markets expand into event contracts related to crypto, stocks/IPOs, climate, pop culture, tech/AI, movies, and music.
Fanatics Markets is launching in 24 states, including states such as California, Texas, Florida, and Washington that do not have legalized widespread sports betting.
“For years, Fanatics has given fans new ways to enhance their fandom through team merchandise, collectibles, tickets, gaming, events, and more,” said Matt King, Chief Executive Officer, Fanatics Betting and Gaming. “Now, with Fanatics Markets, we’re giving fans a safe and intuitive way to engage with the moments that move sports and culture and to pick a side and profit along the way if their prediction is correct,” he added.
Fanatics (FANA) is entering a fast-growing prediction market industry in the U.S. Currently, the main prediction market platforms are Kalshi (KALSHI), Robinhood (HOOD), Crypto.com (via Nadex), Polymarket (POLYMARKET), Interactive Brokers’ (IBKR) ForecastTrader, and PredictIt. Meanwhile, sports betting giant DraftKings (DKNG) entered the prediction market space by acquiring CFTC-regulated Railbird to launch DraftKings Predictions, a mobile app expected soon targeting non-sportsbook states like California and Texas with event contracts on finance, culture, entertainment, and sports outcomes, while FanDuel (FLUT) partnered with CME Group to operate via a Futures Commission Merchant model for its own prediction market.