Fanatics is entering the prediction markets space through a partnership with Crypto.com, CEO Michael Rubin told CNBC on Thursday.
The new platform is expected to launch in the coming weeks, though Rubin offered no specifics on its design or operation.
Prediction markets allow users to wager on real-world outcomes, including elections, sports, entertainment, and economic events. While Rubin didn’t confirm a particular focus, Fanatics’ expertise in sports merchandise and sports betting suggests an initial emphasis on that sector.
Details remain unclear on whether the platform will use cryptocurrency infrastructure or where it will be available, as U.S. state regulations vary. Regulatory approval will be key, as some states allow prediction markets while others prohibit them.
Currently, Fanatics is licensed in 23 states, but Rubin sees strong demand potential in the remaining 27.
If successful, Fanatics could compete with established prediction market platforms such as Kalshi and Polymarket, which have experienced rapid growth over the past year.
