fanatics prediction markets (2026)
Fanatics prediction markets, branded as Fanatics Markets, is the sports and merchandise giant’s entry into the event contracts business. Launched in December 2025, the platform lets users trade contracts tied to the outcome of sports games, economic data releases, political events and cultural moments, functioning less like a sportsbook and more like a regulated futures exchange for real-world events.
What is Fanatics Markets?
Fanatics Markets is a prediction market app built by Fanatics, the company best known for licensed sports merchandise, ticketing and its sportsbook, Fanatics Betting and Gaming. Instead of placing a bet with a bookmaker, users buy and sell “yes” or “no” contracts on whether a specific event will happen, such as whether a team scores more than 20 points or whether the Federal Reserve cuts interest rates at its next meeting.
Contract prices move between $0 and $1 based on supply, demand and the market’s collective view of the probability an event occurs. If your contract resolves correctly, it settles at $1; if not, it settles at $0. That structure is the same basic model used by Kalshi and Polymarket, and it’s what separates prediction markets from traditional sports betting odds.
Who runs it, and is it regulated?
Fanatics Markets operates through a layered corporate structure that’s worth understanding if you’re deciding whether to trust it with money:
- Morton St. Trading Investments, LLC, doing business as Fanatics Markets, is registered with the Commodity Futures Trading Commission (CFTC) as a futures commission merchant and is a member of the National Futures Association (NFA).
- Paragon Global Markets, LLC, acquired by Fanatics in July 2025, is a CFTC-registered introducing broker and NFA member that Fanatics folded into this business.
- Crypto.com | Derivatives North America (CDNA), a CFTC-registered exchange and clearinghouse, actually offers the markets and pricing. Fanatics Markets is the customer-facing app; CDNA provides the exchange infrastructure and clearing behind it.
This is a federal derivatives framework, not a state-by-state gambling license, which is why Fanatics Markets can operate in states where traditional sports betting is either restricted or unavailable, similar to how Kalshi has expanded into states without legal sportsbooks.
What you can trade
Fanatics Markets launched in two phases. Phase One, live at launch, covers:
- Sports (game props, scoring outcomes, matchup results)
- Finance (interest rate decisions, market benchmarks)
- Economics (inflation data, jobs reports)
- Politics (elections, legislative outcomes)
Phase Two, scheduled for early 2026, is set to add contracts tied to crypto prices, stocks and IPOs, climate events, pop culture, tech and AI milestones, and movies and music. Fanatics has framed this expansion as its way of extending prediction markets beyond sports into “culture” more broadly, matching the breadth of merchandise and content categories the company already touches through its retail business.
Where Fanatics Markets is available
Fanatics rolled the platform out across 24 states in stages during its first week, rather than all at once.
| Rollout | States |
|---|---|
| Day one | Alaska, Delaware, Hawaii, Idaho, Maine, New Hampshire, North Dakota, Rhode Island, South Dakota, Utah |
| Day two | Alabama, Minnesota, Mississippi, Nebraska, New Mexico, Oklahoma, Oregon, South Carolina, Wisconsin |
| Day three | California, Florida, Georgia, Texas, Washington |
Fanatics has said it plans to keep adding states, though availability depends on how state regulators treat federally regulated event contracts, an area that’s still being contested in several states where gaming commissions argue prediction markets amount to unlicensed sports betting.
How trading works on the app
The Fanatics Markets app runs on iOS and Android and connects to the same account and wallet system used across the broader Fanatics ecosystem, including Fanatics Collectibles and its sportsbook. A few mechanics worth knowing before you fund an account:
- Combo pricing uses a request-for-quote (RFQ) process. When you build a combo order, it’s sent to the exchange, which routes a quote request to liquidity providers who respond with executable prices, rather than a fixed odds line.
- FanCash and loyalty points earned through trading are governed by the Fanatics ONE FanCash Terms and Fanatics ONE Program Terms, separate from your trading account terms.
- Live data feeds inside the app, including scores and odds-adjacent pricing, are explicitly delayed or potentially inaccurate and are provided for informational purposes, not as a trading input you should rely on for execution decisions.
Risk controls and account limits
Because these are leveraged, all-or-nothing contracts rather than a fixed-stake bet, Fanatics built in the same category of consumer protection tools regulators expect from CFTC-registered platforms:
- Deposit limits
- Session time limits
- Timeouts
- Self-exclusion options
Trading event contracts carries real financial risk, and Fanatics’ own disclosures state plainly that this isn’t appropriate for everyone. Past performance in a given market doesn’t predict future contract pricing, and you can lose your full position if a contract settles against you.
How Fanatics Markets compares to competitors
Fanatics enters a field that’s moved fast since Kalshi and Polymarket popularized event contracts for sports betting-style outcomes:
- Kalshi and Polymarket were early movers, and combined prediction market trading volume industry-wide reached nearly $28 billion through October 2025, according to Crypto.com data cited by CNBC.
- DraftKings entered the space in October 2025 through its acquisition of Railbird.
- FanDuel, owned by Flutter, announced a prediction markets platform built with CME Group, launching around the same time as Fanatics Markets.
- Fanatics Markets differentiates itself by leaning on Crypto.com | Derivatives North America for exchange infrastructure and pricing, and by tying trading rewards into the existing Fanatics loyalty ecosystem rather than building a standalone rewards program.
Fanatics Betting and Gaming CEO Matt King described the December 2025 launch as “the top of the first inning” for the category, comparing the current competitive landscape to a market he expects to grow substantially over the next five to ten years.
Getting started
To open a Fanatics Markets account, download the app from the iOS App Store or Google Play, verify your identity (a standard requirement for CFTC-regulated accounts), and confirm you’re in an eligible state. Fund your account through the Fanatics wallet, set a deposit or session limit if you want built-in guardrails, and review the platform’s Important Risk Disclosures before placing your first contract. If you’re moving from a traditional sportsbook, expect the interface to feel familiar, but budget time to understand contract pricing and settlement before committing real money.
