Sports Giant Fanatics Launches Prediction Market Platform in 10 States - Here’s Why It Matters
Fanatics just threw a curveball at traditional sports betting. The retail titan is launching a prediction market platform across 10 states, letting fans wager on everything from game outcomes to player stats.
Beyond the Box Score
This isn't your typical sportsbook. Fanatics is leveraging its massive user base and brand loyalty to create a seamless experience—tying predictions directly to merchandise, tickets, and exclusive content. They're not just taking bets; they're building an engagement engine.
The Regulatory Hurdle
Launching in 10 states means navigating a patchwork of regulations. Fanatics is betting its compliance infrastructure and existing relationships can clear the red tape faster than crypto-native platforms still fighting for legitimacy.
A New Playbook for Engagement
Forget passive viewing. This move turns every fan into a potential analyst, creating sticky, data-rich interactions. It's a masterclass in monetizing attention—something traditional finance still struggles to grasp while counting its basis points.
The Bottom Line
Fanatics isn't playing games. This launch signals a massive, well-funded player entering the prediction space with built-in distribution. It validates the market while threatening incumbents. One cynical take? It's another case of legacy capital spotting a trend, throwing money at it, and calling it innovation—all while the original disruptors fight regulatory battles.
TLDR
- Fanatics launched Fanatics Markets, a prediction market platform built with Crypto.com, now live in 10 states with 14 more coming soon
- Users can trade contracts on sports, politics, finance and economics, with crypto prices, IPOs, tech and entertainment contracts arriving in early 2026
- The platform uses Crypto.com’s CFTC-registered infrastructure through Fanatics’ acquisition of Paragon Global Markets in July 2025
- Fanatics Markets competes directly with Polymarket and Kalshi, which saw nearly $10 billion in combined volume during November 2025
- Fanatics generated $8.1 billion in revenue in 2024, expanding from sports merchandise into betting, gaming and now prediction markets
Fanatics unveiled its prediction market platform on Tuesday, marking the sports apparel company’s entry into financial trading products. Fanatics Markets went live in 10 states with plans to expand to 24 states in the coming week.
Powering Up Predictions! We’re excited to announce our next prediction markets partnership with Fanatics as they launch @Fanatics Markets – the first Fan-Led Prediction Market at the Intersection of Sports, Finance, and Culture.
Read more: https://t.co/rd4KymEOIW pic.twitter.com/LBMUVBlUeI
— Crypto.com (@cryptocom) December 3, 2025
The new platform allows users to trade contracts on real-world events including sports outcomes, political decisions and economic trends. Fanatics built the platform through a partnership with Crypto.com, which provides the backend trading technology.
Fanatics Markets launched first in Alaska, Delaware, Hawaii, Idaho, Maine, New Hampshire, North Dakota, Rhode Island, South Dakota and Utah. The company plans to bring the service to California, Texas, Florida and Washington in the NEAR future.
The platform will roll out in two phases according to the company. Phase one includes contracts for sports, finance, economics and politics. Phase two will begin in early 2026 and add contracts for cryptocurrency prices, stock IPOs, climate events, pop culture, technology developments, movies and music.
Fanatics acquired Paragon Global Markets in July 2025 to gain regulatory approval for the venture. This acquisition gave the company clearance from the Commodity Futures Trading Commission and membership in the National Futures Association.
Market Competition
The launch puts Fanatics in direct competition with established prediction market platforms Polymarket and Kalshi. These two platforms combined for nearly $10 billion in trading volume during November 2025. Both companies hold valuations in the billions of dollars.
Fanatics announced its intention to enter the prediction markets business in November 2025. The company aims to use its existing fan base from sports merchandise and collectibles to attract users to the new platform.
Platform Infrastructure
Crypto.com supplies the regulated trading infrastructure through its North America derivatives subsidiary CDNA. CDNA holds registration with the CFTC as both an exchange and clearinghouse. Travis McGhee, head of predictions at Crypto.com, stated the partnership provides users with a SAFE and compliant way to access prediction markets.
Crypto.com previously launched sports prediction markets before partnering with Fanatics. The company has similar partnerships with Truth Social and MyPrize.
Company Background
Fanatics reported $8.1 billion in revenue for 2024, representing a 15% increase from the previous year. The company holds apparel licenses with most major sports leagues in North America.
Beyond merchandise, Fanatics operates divisions for collectibles, betting, gaming, tickets and events. Matt King serves as CEO of Fanatics Betting and Gaming, overseeing the new Markets platform.
The Fanatics Markets app is available for download on iOS and Android devices. Users in the 10 currently available states can begin trading contracts immediately.
