Fanatics launches prediction markets platform amid competitive space

Fanatics, the leading global sports platform, enters a fast-growing sector full of demand and prediction markets.

Fanatics Markets, a simple and easy-to-use predictive market platform, was announced on Wednesday. It will allow consumers to trade in the moments that shape sports, finance and culture.

While Fanatics is one of the major players in the sports betting space, the prediction market is a completely different space due to the wide sectors people can choose to trade in, including politics, the Oscars, cultural moments, and much more.

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FOX Business was able to speak with Matt King, CEO of Fanatics Betting & Gaming, who shared key takeaways on why Fanatics is excited to add this prediction market platform under its umbrella.

First, it starts with a name that is trusted by many who do not want to participate in prediction markets.

“The number one thing that makes us different is our brand,” King said. “This is something that’s completely new and involves something that’s a completely new concept, and when you go to sign up, it’s like, ‘Hey, give us your Social Security number, some private information.’ And by the way, give us money on the deposit.” Ultimately, we’ve seen this over and over again, that having a brand that people know and trust is very valuable to them. Because it’s like, “Hey, if I’m going to try something new, I feel better with a brand that I already know.”

“This is where our brand will be hugely important.”

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As King points out, fanatics had the ability to expand and transform over the years. Despite being a sports platform, Fanatics has kept their finger on the pulse of how sports intersect with music, pop culture, and more. Think rapper Travis Scott and NFL legend Tom Brady opening packs of Topps trading cards together at Fanatics Fest with thousands of fans on hand for a once-in-a-lifetime experience.

“Being able to build an ecosystem where the more people engage with us, the more value they see,” King added. “We think this is just another opportunity to add a product that people can participate in and unlock more benefits across the fanatic ecosystem.”

Like anything within the business, Fanatics wanted to make sure they were doing it right, especially considering how established the futures industry is. There are rules and regulations that differ from those for sports gambling.

That’s why Fanatics Markets acquired Paragon Global Markets, LLC (“Paragon”) in July 2025. Paragon is federally registered as an Introduced Broker with the Commodity Futures Trading Commission (CFTC), while also being a member of the National Futures Association.

An overview of the Fanatics Markets app, which will feature a seamless user experience for consumers much like the Fanatics Sportsbook app. (Fanatics/Fox News)

Fanatics Markets will also familiarize its clients with the markets and prices offered by Crypto.com| Derivatives North America (CDNA), a CFTC-registered exchange and clearinghouse.

Now, any new venture, even for established companies like Fanatics, faces challenges when entering a new field. King sees two challenges for the fanatic markets from the beginning.

“You have to admit this is going to be an incredibly competitive place,” he said. “Anytime you have a new space of this size with a lot of venture capital, you tend to see people doing things that are irrational from an economic perspective. So, I think the right balance has to be found between staying aggressive, but being disciplined from a business perspective and building for the long term.”

The second challenge facing Fanatics Markets is different competitors that the brand is not necessarily familiar with. Of course, King said, “I’ll still be rooting for us all day to succeed,” but he tipped his hat to those who have already shown success in the field.

“You have the likes of Robinhood and WeBull and some of the other traditional investment platforms that are clearly encroaching on the speculative space and getting into more sports-led products,” King said. “We’re a sports brand that’s going the other way, so we have to acknowledge that this is a different competitor than we’ve been competing against historically. I’m still rooting for us all day long to succeed, but it’s going to be different and it’s going to be crowded.”

But what Fanatics Markets can do is bring a trusted brand name into the prediction markets space, segment it into the mainstream and do it in two stages.

A look at the new Fanatics Markets app, which will feature charts like these that show what consumers are trading on, whether it’s sports, politics, pop culture, or other markets. (Fanatics/Fox News)

The launch takes place on Wednesday in the first stage markets, which are event contracts for sports, finance, economics and politics. In the second phase, which will launch early next year, Fanatics Markets will expand to include event contracts related to cryptocurrencies, stocks/IPOs, climate, pop culture, technology/AI, movies and music.

Fanatics also realize that prediction markets will be different for consumers who typically focus on sports. But there will be familiarity, as FOX Business has to demo the app before launch, which offers a sleek design similar to Fanatics Sportsbook.

It is also worth noting that despite being a separate app, it is one combined wallet and account – a unique feature that also works in the final main component of this new project by Fanatics.

Consumer protection has always been at the forefront of fanatics’ concerns, and that’s no different here. There will be risk management tools to help consumers manage exposure, while trading responsibly and making informed decisions when doing so. In turn, there are also uniform limits across products, meaning the deposit limits, session limits, timeouts and self-exclusions set on Fanatics Sportsbook carry over to the Fanatics markets.

“We think it’s very important to put consumer protection front and center and make sure consumers are educated on how to set their own limits. It was an easy decision for us to make sure we took the best ideas in each of our other sectors and put them front and center with consumers here,” King said.

Fanatics Markets will launch on December 3, 2025. (Fanatics/Fox News)

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The Fanatics Markets app will launch today in the following states: Alaska, Delaware, Hawaii, Idaho, Maine, New Hampshire, North Dakota, Rhode Island, South Dakota, and Utah. These states will be followed by Alabama, California, Florida, Georgia, Minnesota, Mississippi, Nebraska, New Mexico, Oklahoma, Oregon, South Carolina, Texas, Washington and Wisconsin.

“We couldn’t be more excited. It’s something that happens all too often, and that was true in regulated sports betting and iGaming, where we were late to the party. This is where we can be, certainly not a first mover, but among the first movers in a market that is still incredibly dynamic and has a lot of innovation and growth left.” “We are excited to prove that we can be a prominent player in this category, in part because we have the opportunity to be one of the first movers rather than the second mover.”

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