Fanatics has officially rolled out a prediction markets offering in partnership with Crypto.com via the launch of Fanatics Markets.
Powered by Crypto.com | Derivatives North America (CDNA), Fanatics Markets has launched in 24 US states, including California and Texas.
The Fanatics Markets app is now available for download, with event contracts on sports, finance, economics and politics launched in the first tranche.
Early next year, Fanatics will push out markets related to “crypto, stocks/IPOs, climate, pop culture, tech/AI, movies and music”.
The launch of sports event contracts will allow Fanatics to expand into states without a form of legalised sports betting, such as California and Texas.
However, Fanatics Markets is expanding into the 24 markets in a staged manner.
The product is now live in Alaska, Delaware, Hawaii, Idaho, Maine, New Hampshire, North Dakota, Rhode Island, South Dakota and Utah.
Alabama, California, Florida, Georgia, Minnesota, Mississippi, Nebraska, New Mexico, Oklahoma, Oregon, South Carolina, Texas, Washington and Wisconsin will go live at a later date.
Bosses said that Fanatics Markets would have tools in place to allow customers to “manage exposure, trade responsibly and make informed trading decisions”.
These include deposit and session limits, timeouts and self-exclusion.
Fanatics’ push into prediction markets comes after the privately owned business acquired Paragon Global Markets in July.
Paragon is a Commodity Futures Trading Commission-approved broker, and is the vector via which Fanatics can partner with Crypto.com.
Group CEO Michael Rubin had previously announced the company’s intention to move into the sector.
Crypto.com was the first business to launch sports event contracts in December 2024. It has since partnered with DFS giant Underdog to place event contracts on its platform.
Trump Media and Technology Group has also tapped Crypto.com to offer prediction markets on its social media platform Truth Social.
Fanatics expanded into the sports betting and igaming space via its acquisition of PointsBet US.
The firm will now follow DraftKings and FanDuel as a regulated US gambling operator in stepping into prediction markets.
DraftKings acquired Railbird to facilitate its expansion, while FanDuel has created a JV with CME Group.
Matt King, Fanatics Betting and Gaming CEO, said: “For years, Fanatics has given fans new ways to enhance their fandom through team merchandise, collectibles, tickets, gaming, events and more.
“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.”
Travis McGhee, Crypto.com global head of predictions, added: “Crypto.com was the first to launch sports prediction markets, and our reach continues to grow through innovative partnerships with top-tier platforms such as Fanatics.
“We could not be more proud to be the partner of choice for Fanatics, and together we will provide fans with a safe and compliant way to access prediction markets.”
The post Fanatics launches prediction market offering with Crypto.com first appeared on EGR Intel.
Fanatics Markets to go live in 24 states in phased rollout, including California and Texas, as it joins FanDuel and DraftKings in moving into the vertical
The post Fanatics launches prediction market offering with Crypto.com first appeared on EGR Intel.