Fanatics Eyes Early-Stage Talks on Prediction Market Expansion

Fanatics is thinking about getting more involved in digital betting. They are in early talks with Crypto.com to create a joint platform for betting on future events. 

From Jerseys to Events Contracts: Fanatics Eyes Crypto.com Collaboration

People who know about these discussions say they are still in the initial stage, but the idea shows that the sports merchandise giant might want a bigger part in a field that is catching more and more attention from the gambling and financial technology industries, reported the Financial Times.

The potential team-up would focus on markets where people buy and sell contracts linked to results in sports, politics, entertainment, and other big cultural events. These products have become more popular because of increased activity on sites like Polymarket and Kalshi. Both of these platforms have attracted major investment and gained many new users in the last year. Their success has led traditional gambling companies to take a fresh look at how event-based trading could fit in with regular sports betting.

Fanatics is growing well beyond its beginnings as a jersey and memorabilia seller. Its sportsbook now runs in over 20 US states, and it is reaching further into collectibles, shown by its buying of trading card and premium clothing businesses. This spring, the company also opened a big store in central London, highlighting a wider global move. People who watch the industry say a prediction platform could fit well with its growing betting operations, but the company has not said anything about this idea.

Fanatics and Crypto.com Could Bridge Sports Betting and Prediction Markets

Crypto.com has permission to offer event contracts in most US states. It has been making more and more deals in this area. The company started offering sports markets earlier this year. It has also given its tech to various platforms, from betting sites focused on entertainment to social gaming apps. Some states have looked into Crypto.com’s legal standing, but the company keeps pushing into regulated event trading.

Fanatics’ rivals are making moves, too. FanDuel‘s parent company teamed up with CME Group, a derivatives exchange, to launch its own prediction service. DraftKings bought Railbird and is getting ready to roll out similar products. Other big players have been more careful, pointing to the mix of rules that control how companies can offer event contracts. Experts believe a partnership between Fanatics and Crypto.com would strengthen the connection between conventional sports betting and the new prediction market approach.

However, the final call hinges on regulatory issues and business alignment. At the moment, just looking into this possibility shows how fast the industry is changing the competitive scene. This pushes well-known brands to think about fresh ways to connect with users as people grow more interested in trading based on outcomes.