Fanatics is set to enter the prediction markets arena through a partnership with Crypto.com, CEO Michael Rubin told CNBC on Thursday.
The platform is expected to launch within the next few weeks, though Rubin did not provide details on its features or operations.
Prediction markets allow users to bet on real-world events, from elections and sports to entertainment and economic outcomes. While Rubin did not confirm a specific focus, Fanatics’ deep experience in sports merchandise and sports betting suggests the platform may initially target the sports sector.
It remains unclear whether the platform will operate on cryptocurrency infrastructure or where it will be available, as U.S. state regulations differ—some states allow prediction markets, while others ban them. Regulatory approval will therefore play a key role in the rollout.
Fanatics currently holds licenses in 23 states, but Rubin said the remaining 27 represent untapped demand potential.
If successful, Fanatics’ new platform could compete with established prediction market operators like Kalshi and Polymarket, which have seen significant growth over the past year.
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