Fanatics Buys 2 BGC Units to Launch Its Own Prediction Markets
Updated
Updated · CoinDesk · Jul 27
Fanatics Buys 2 BGC Units to Launch Its Own Prediction Markets
3 articles · Updated · CoinDesk · Jul 27
Summary
Fanatics agreed to acquire Water Street Labs and CX Clearinghouse from BGC Group, giving it a federally regulated exchange and clearinghouse to list and settle prediction contracts itself.
That structure gives Fanatics more control over product design and launch speed as it pushes deeper into a market that has surged in popularity across elections, inflation and sports.
Fanatics and BGC also plan market-data products combining prediction-market activity with traditional financial data, extending the deal beyond exchange ownership.
Fanatics launched its Markets platform in late 2024 and now operates in 23 states and four U.S. territories, betting its sports audience can widen consumer adoption.
The move puts Fanatics into more direct competition with Kalshi, Polymarket and sportsbook operators such as DraftKings as prediction markets spread further into mainstream finance.