Fanatics rolls out Prediction Markets across 24 US states
Fanatics has launched Fanatics Markets in 24 U.S. states, expanding into prediction markets with phased event-based trading across sports, finance, culture and technology.
Fanatics has entered the prediction-market sector with the rollout of Fanatics Markets, launching this week in 24 states including California, Texas, Florida and Washington. The platform will allow users to trade on outcomes across sports, finance, economics, politics and culture, with additional categories to follow.
The launch is being phased across the U.S. The first 10 states went live yesterday with contracts covering sports, finance, economics and politics. Fanatics said it will introduce event contracts for crypto, stocks, tech, music and other sectors early next year.
“For years, Fanatics has given fans new ways to enhance their fandom through team merchandise, collectibles, tickets, gaming, events and more,” said Matt King, CEO of 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.”
Prediction markets such as Polymarket and Kalshi have grown rapidly alongside legal online sports betting, with combined industry trading volumes reaching nearly $28bn through October, according to Crypto.com. The growing interest has prompted sportsbooks and technology providers to develop their own event-contract platforms.
“This is really the top of the first inning on a market that’s going to grow exponentially over the next five to 10 years, so we’re not worried about being a couple months behind [competitors],” King said on CNBC.
DraftKings entered the segment in October with its acquisition of Railbird, while FanDuel, owned by Flutter, plans to launch a prediction-market product in partnership with CME Group. Fanatics CEO Michael Rubin previously confirmed the company’s intention to expand into prediction markets.
Fanatics Markets will use pricing from Crypto.com, and customers will be able to access the wider Fanatics ecosystem through a shared wallet, with options to set deposit and session limits.
The rollout began in Alaska, Delaware, Hawaii, Idaho, Maine, New Hampshire, North Dakota, Rhode Island, South Dakota and Utah. Today the launch covers Alabama, Minnesota, Mississippi, Nebraska, New Mexico, Oklahoma, Oregon, South Carolina and Wisconsin. On Friday, the platform will go live in California, Florida, Georgia, Texas and Washington.
