Fanatics Launches Fanatics Markets in Collaboration with Crypto.com: A New Fan-Driven Prediction Market

Fanatics, a prominent sports platform, has launched its new prediction market, Fanatics Markets, in collaboration with Crypto.com. This platform not only enables fans to engage with sports but also offers a broader insight into finance and culture, providing a simple and efficient trading experience.

Key Takeaways

Fanatics Markets is a fan-led prediction market platform developed with Crypto.com.
The platform allows users to trade on various outcomes related to sports, finance, and culture.
Available in multiple U.S. states, the app is user-friendly and accessible on iOS and Android.
Backed by a reputable brand, Fanatics Markets aims for a phased launch, with plans to include more event contracts in the future.
The platform emphasizes user safety, offering tools for responsible trading.

Fanatics Introduces Fanatics Markets as a Fan-Led Prediction Market in Partnership With Crypto.com

Introduction to Fanatics Markets

Fanatics, a top global sports platform, has unveiled Fanatics Markets, a prediction market specifically designed for fans, in partnership with Crypto.com. This initiative brings prediction markets to the vibrant intersection of sports, finance, and culture.

Features of Fanatics Markets

Fanatics Markets is engineered to allow users to trade on impactful moments within sports, finance, and culture, delivering a seamless and straightforward experience. The partnership with Crypto.com enables access to comprehensive markets and pricing through Crypto.com | Derivatives North America (CDNA), a CFTC-registered exchange and clearinghouse.

Participants can engage by choosing a side and potentially earn profits from significant outcomes—ranging from sports events to shifts in gold prices, or major cultural events. The Fanatics Markets app is readily available on both iOS and Android platforms.

Trading Opportunities

The platform offers users the capability to trade various contracts across fields like sports, finance, economics, and politics. This includes predicting if a sports team will score more than 20 points or anticipating how certain cultural stories will unfold. With the CFTC-registered derivatives exchange from Crypto.com, users benefit from institutional-grade security, while Fanatics Markets oversees user experience and interface design. The outcome is a polished platform that mirrors real-time market sentiment.

Availability and Expansion

Fanatics Markets is currently live in several U.S. states, such as California, Texas, Florida, and Washington, among others. The application is now accessible in additional states like Alaska, Delaware, and Hawaii, with plans for further rollouts.

Travis McGhee, Global Head of Predictions at Crypto.com, highlighted that the continuing expansion of Crypto.com through collaborations with platforms like Fanatics offers fans a secure and compliant avenue to prediction markets.

Matt King, CEO of Fanatics Betting and Gaming, emphasized that Fanatics Markets enables fans to connect meaningfully with pivotal sports and cultural moments, with the potential for profit on their predictions.

Future Developments

The launch of Fanatics Markets will occur in two phases. The first phase features event contracts encompassing sports, finance, economics, and politics. The second phase, set to debut early next year, will broaden its scope to include contracts related to cryptocurrency, stocks, IPOs, climate issues, pop culture, technology, movies, and music.

Consumer safety is a priority for Fanatics Markets, which will provide various tools to help customers monitor exposure, trade responsibly, and make informed choices. These tools include deposit limits, session limits, timeouts, and options for self-exclusion.

Growing Collaboration with Crypto.com

Fanatics is part of an expanding network of brands partnering with Crypto.com to facilitate access to prediction markets. Recent collaborations include agreements with platforms like Underdog, Truth Social, Hollywood.com, and MyPrize.

For further details, visit Crypto.com.