“Pick a side, trust your view — profit if your insight rings true.”
The world’s largest sports company, Fanatics, has introduced Fanatics Markets, a new prediction market platform that allows users to trade on events influencing politics, sports, finance, and culture.
The platform, which is supported by a partnership with Crypto.com’s licensed derivatives exchange, seeks to popularise prediction markets by providing a reliable, secure, and simple way to participate.
The launch follows Fanatics’ acquisition of Paragon Global Markets, a U.S. Commodity Futures Trading Commission (CFTC)-registered introducing broker. Users may now trade event-based contracts, such as whether a football team scores 20 points or whether the Federal Reserve lowers interest rates, thanks to Fanatics Markets, which is currently available on iOS and Android.
Crypto.com helps Fanatics provide a seamless, legal experience by contributing institutional-grade infrastructure to the relationship. 24 states, including California, Texas, Florida, and Washington, will see the launch of Fanatics Markets.
Alaska, Delaware, Hawaii, Idaho, Maine, New Hampshire, North Dakota, Rhode Island, South Dakota, and Utah have already implemented the app.
According to Matt King, CEO of Fanatics Betting and Gaming, “fans want new ways to play, win, and connect.” “They have a fun and safe way to choose a side and make money if their predictions come true thanks to Fanatics Markets.”
This optimism was mirrored by Travis McGhee, Global Head of Predictions at Crypto.com, who described the collaboration as a significant step towards providing fans worldwide with regulated prediction markets.
The platform will grow gradually, with upcoming markets including stocks, cryptocurrency, technology, entertainment, and the environment. Additionally, Fanatics Markets offers self-exclusion options and deposit caps as consumer safety measures.
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