Fanatics Markets went live December 3 in 10 states. The sports betting giant’s new prediction platform marks its first move into event contract trading.
CEO Michael Rubin announced the launch November 20 after partnering with Crypto.com for tech support. Matt King, who runs Fanatics Betting and Gaming, said the platform gives fans “a safe and intuitive way to engage with the moments that move sports and culture.”
Fanatics acquired Paragon Global Markets back in July 2025. That purchase brought CFTC registration and National Futures Association membership.
Why Sportsbook Operators Think They’ll Win
Rubin praised Polymarket’s Shayne Coplan and Kalshi’s Tarek Mansour as “studs.” But he thinks sportsbook companies have built-in advantages here.
The shared wallet feature connects Fanatics Markets to the company’s other products. Players can move money between verticals without hassle, and they’ve already got millions of sports bettors who understand how these markets work.
Crypto.com handles the backend as a CFTC-registered exchange and clearinghouse. Travis McGhee, their Global Head of Predictions, called Fanatics “the partner of choice” for expanding prediction market access.
What’s Available Now and Coming Soon
The December 3 rollout covered Alaska, Delaware, Hawaii, Idaho, Maine, New Hampshire, North Dakota, Rhode Island, South Dakota and Utah. Fourteen more states launch by December 5, including Oregon, Florida, California and Texas. That’s 24 states total.
Phase one offers contracts on sports, finance, economics and politics. Pretty standard stuff for prediction markets right now.
Early 2026 brings phase two. That’s when crypto, stocks, IPOs, climate, pop culture, tech/AI, movies and music get added. Way broader than most platforms.
Players get deposit and session limits. Basic responsible gambling tools that sportsbooks already use.
How This Changes the Market Landscape
Fanatics brings serious scale to prediction markets. Their existing customer base dwarfs current platforms like Polymarket.
The two-phase approach lets them test operations before expanding contract types. Sports contracts first makes sense since that’s their core business. Adding stocks and crypto later targets a different crowd entirely.
State-by-state rollout follows the same pattern as their sportsbook launch. They’re playing it safe with regulatory compliance rather than rushing everywhere at once. The CFTC registration through Paragon gives them legitimacy that pure crypto platforms don’t have.
Other major sportsbook operators will probably follow if this works. DraftKings and FanDuel can’t ignore a new revenue stream if Fanatics proves the model.
