Fanatics to buy BGC Group assets to launch prediction market exchange

Reuters

Mon, July 27, 2026 astatine 8:09 AM CDT 1 min read

July 27 (Reuters) - Fanatics, a planetary sports platform, volition get a designated declaration marketplace and a ‌derivatives clearing enactment from brokerage BGC Group to ‌launch its ain prediction marketplace exchange, the companies said connected Monday.

Here ​are much details from the announcement:

• Fanatics volition bargain Commodity Futures Trading Commission-registered declaration marketplace Water Street Labs, LLC and CX Clearinghouse L.P. from BGC.

• The fiscal ‌terms of the woody ⁠were not revealed successful the announcement.

• Fanatics Markets, launched successful 2025 arsenic the prediction ⁠markets subsidiary of Fanatics, allows users to commercialized connected sports outcomes specified arsenic crippled winners, subordinate milestones and ​tournament champions.

• ​The level is accessible ​in 23 U.S. states — ‌including California, Texas and Florida. The woody volition besides assistance Fanatics to grow its prediction marketplace offerings.

• Prediction marketplace startups specified arsenic Kalshi person clashed with authorities regulators implicit gambling laws concerning sports contracts. Critics of ‌the plus people reason that ​such platforms are thing much than ​illegal gambling operations.

• "By ​combining that organization instauration with Fanatics' unmatched ‌understanding of fans and user ​engagement, we person ​a unsocial accidental to accelerate the maturation of prediction markets and present a best-in-class acquisition for ​both retail and ‌institutional participants," said Matt King, CEO of Fanatics ​Betting and Gaming.

(Reporting by Pritam Biswas successful ​Bengaluru; Editing by Shinjini Ganguli)