Fanatics announced Wednesday the launch of Fanatics Markets, its own prediction market, in 24 states, including California, Texas, Florida, and Washington. The platform will let users trade on events spanning sports, finance, and culture, with a phased rollout over the coming days.
The first phase, beginning Wednesday in 10 states, includes contracts covering sports, finance, economics, and politics. Early next year, Fanatics plans to expand into markets for crypto, stocks, tech, music, and more. “For years, Fanatics has given fans new ways to engage with their favorite teams and experiences,” said Fanatics Betting and Gaming CEO Matt King. “Now, with Fanatics Markets, fans can predict outcomes, interact with major cultural moments, and potentially profit if their forecasts are correct.”
Prediction markets have surged in popularity alongside the growth of legal online sports betting, with combined trading volumes reaching nearly $28 billion through October. This boom has encouraged other industry players, including DraftKings and FanDuel, to launch their own platforms.
Fanatics said Crypto.com will provide pricing for the market, and users can access the entire Fanatics ecosystem through a shared wallet with configurable deposit and session limits. Fanatics Markets launches Wednesday in Alaska, Delaware, Hawaii, Idaho, Maine, New Hampshire, North Dakota, Rhode Island, South Dakota, and Utah; Thursday in Alabama, Minnesota, Mississippi, Nebraska, New Mexico, Oklahoma, Oregon, South Carolina, and Wisconsin; and Friday in California, Florida, Georgia, Texas, and Washington.
King described the launch as a natural extension of Fanatics’ offerings, emphasizing the company’s goal of giving sports fans new ways to engage with the moments that shape sports and culture.