Paragon Global Markets

What Paragon Global Markets does

Paragon Global Markets is a New York-based NFA-registered introducing broker that was acquired by Fanatics in July 2025 to serve as the regulatory vehicle for the Fanatics Markets prediction market platform. The company's core function is providing federally regulated introducing broker status, which allows Fanatics to offer CFTC-supervised event contract trading on sports, finance, politics, and cultural outcomes across 24 U.S. states, bypassing the state-by-state gambling licensing regime and associated corporate gambling taxes. Its technology stack is regulatory rather than algorithmic: Paragon facilitates order introduction to Crypto.com-owned Nadex (North American Derivatives Exchange) and its CDNA derivatives exchange, forming a two-sided CFTC compliance layer.

The business model is transaction-fee based, with revenue derived from trades executed through the Fanatics Markets mobile applications on iOS and Android. End users are individual prediction market traders, described as men aged 25-45 seeking trading opportunities across multiple event categories, accessed via self-serve mobile distribution. The platform's distribution is handled entirely by parent company Fanatics through its sports betting and gaming properties, meaning Paragon has no independent go-to-market motion; its commercial existence is structurally bound to Fanatics Markets and the Nadex/CDNA clearing relationship.

The company is private, was founded in 2014, and operates with 11-50 employees. No prior independent funding history, revenue figures, or management team beyond a single named VP of Commodity Price Risk Management (Ian Littlewood) is disclosed in the source material. The strategic intent is regulatory arbitrage: by operating under CFTC jurisdiction rather than state gambling oversight, the combined Paragon-Fanatics Markets-Crypto.com stack captures economic value (avoided licensing fees, avoided gambling taxes, cross-sell from Fanatics' sportsbook user base) that a state-licensed sportsbook competitor cannot replicate.

Name

Paragon Global Markets

Website

https://www.paragonglobalmarkets.com

Company type

Private

Founded year

2014

Operating status

Acquired

Headcount range

11–50 employees

Short description

Paragon Global Markets is an NFA-registered introducing broker acquired by Fanatics in July 2025 to provide CFTC-regulated infrastructure for the Fanatics Markets prediction market platform, enabling event contract trading across sports, finance, politics, and culture in 24 U.S. states.

Ownership category

akta.pro rank

Product category

Prediction Markets Brokerage Services

NAICS

Commodity Contracts Intermediation (523160), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

FX Derivatives (Forwards, Options, NDFs) (FSACADAC)

akta.pro secondary industry

Retail FX/CFD Broker Trading Venues (FSAFADAD)

Keywords

• Prediction markets
• Event contract trading
• Introducing broker
• CFTC-regulated trading
• Futures brokerage

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Markets served

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Prediction Market Trading: Following acquisition by Fanatics in July 2025, Paragon Global Markets enables Fanatics Markets platform to offer event contract trading on sports, finance, politics, and cultural outcomes. Revenue generated through transaction fees on trades executed through the CFTC-regulated platform.

Go-to-market motion2 records

Distribution channels1 record

Core offering

Paragon Global Markets is an introducing broker registered with the National Futures Association (NFA) that enables CFTC-regulated event contract and prediction market trading. Following its acquisition by Fanatics in July 2025, the firm provides the regulatory foundation for Fanatics Markets to offer trading on sports, finance, politics, and cultural outcomes across 24 U.S. states, routing trades through Crypto.com-owned Nadex/CDNA's CFTC-regulated derivatives exchange.

Differentiator

Problem solved

Functional benefit

Products and services

• Paragon Global Markets Introducing Broker Services

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered core.

• Fanatics (Acquirer)coreStrategic or Co-development Partner · 3 December 2025Fanatics acquired Paragon Global Markets in July 2025 to gain the regulatory clarity required to operate prediction markets. Paragon serves as the NFA-registered introducing broker enabling Fanatics Markets to operate under CFTC jurisdiction, bypassing state gambling regulations and associated licensing fees.
• Crypto.com (via Nadex/CDNA)coreTechnology or IntegrationFanatics Markets partners with Crypto.com-owned Nadex (North American Derivatives Exchange) as its CFTC-regulated broker. This partnership enables Paragon Global Markets to facilitate event contract trading through Crypto.com's CFTC-regulated derivatives exchange CDNA, providing the regulatory infrastructure for compliant prediction market operations.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Market position

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

• Xx.com/PGM_LLC

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Paragon Global Markets