Published on: November 20, 2025, 06:30h.
Updated on: November 20, 2025, 06:30h.
- Fanatics has acquired a company to obtain membership in the National Futures Association (NFA)
- CEO Rubin indicates that a collaboration with Crypto.com could launch soon
Fanatics is now the most recent sportsbook operator to venture into the realm of prediction markets.
During a conversation with CNBC’s Sara Eisen on Thursday, Chairman and CEO Michael Rubin shared that Fanatics has joined forces with Crypto.com and intends to launch its own prediction market platform shortly.
“If there’s a service essential to our customers, we aim to lead in that area,” Rubin stated during the interview.
In a strategic move, Fanatics has recently purchased Paragon Global Markets, ensuring compliance with the National Futures Association (NFA). NFA memberships for gaming firms are crucial as they are recognized by the Commodities Futures Trading Commission (CFTC), the authority overseeing operators of yes/no exchanges.
Rubin Envisions Sportsbooks Dominating Prediction Markets
With its collaboration with Crypto.com, Fanatics follows in the footsteps of competitors DraftKings and FanDuel, who are also entering the prediction markets space. These rivals plan on launching DraftKings Predictions and FanDuel Predictions in the near future.
Fanatics has mirrored strategies from its competitors, employing an acquisition like DraftKings’ Railbird to expedite regulatory approval and partnering with a leading financial service firm, akin to FanDuel’s alliance with CME Group. Amid increasing activity on Kalshi and the resurgence of Polymarket in the US, Rubin is confident that sportsbooks will emerge victorious in the event contracts sector.
“I predict that sportsbooks will be the key players in this market,” Rubin remarked, recognizing that this perspective contrasts with the prevailing opinion today. “Our expansive customer base and industry experience provide us with significant strategic advantages.”
Rubin also stated that while there may be regulatory challenges as Fanatics enters the prediction market domain, the company is ready to pivot if such obstacles arise. Regulatory bodies across various states have cautioned licensed sportsbooks that venturing into event contracts, even in other states, could jeopardize their licensing status.
Major Win for Crypto.com
Crypto.com was among the early players to introduce sports event contracts in the US, making its partnership with Fanatics a significant achievement as it marks the cryptocurrency giant’s first collaboration with a major sportsbook operator. While Crypto.com does have an existing partnership with prediction market Underdog, it’s primarily focused on technological aspects.
The announcement about Fanatics further highlights a thriving phase for Crypto.com within the emerging event contracts market. Earlier this month, they disclosed a partnership with Hollywood.com, which will feature Crypto.com event contracts related to actors, films, television shows, and more.
A week prior, Crypto.com revealed a collaboration with Trump Media and Technology Group (NASDAQ: DJT), integrating prediction markets directly into Truth Social, making it the first social media platform to incorporate event contracts directly.