What Fanatics Markets does

Fanatics Markets is a CFTC-regulated prediction market platform operated by Morton St. Trading Technologies, LLC as a subsidiary of Fanatics Inc. It enables individual consumers to buy and sell event contracts — positions on real-world outcomes — across sports, politics, crypto, culture, economy, and companies. The platform runs on Crypto.com | Derivatives North America (CDNA), a federally regulated exchange and clearinghouse, with Paragon Global Markets, LLC operating as Fanatics Markets IB (a CFTC-registered introducing broker and NFA member). Available in 23 U.S. states and four territories, the platform monetizes through per-transaction fees on event-contract trading and integrates with the Fanatics ONE loyalty program (offering up to 10% FanCash on trades).

The product surface includes the core trading platform, a World Cup Hub (co-branded with ADI Predictstreet as the official U.S. prediction market for FIFA World Cup 2026), Complex Bets (a content partnership with Complex media reaching youth-culture audiences), and trading features such as Combos (Request-for-Quote multi-leg orders) and FanViz (live event visualization). Distribution leverages FIFA's official partnership, Complex's media audience, and the Fanatics Inc. ecosystem for cross-sell. The company was founded in 2025 and has no disclosed funding rounds, headcount, or revenue figures.

Name

Fanatics Markets

Legal name

Morton St. Trading Technologies, LLC

Website

https://fanaticsmarkets.com

Company type

Private

Founded year

2025

Operating status

Operating

Short description

Fanatics Markets is a CFTC-regulated prediction market platform — operated by Morton St. Trading Technologies, LLC under Fanatics Inc. — that lets individual consumers trade event contracts on sports, politics, crypto, culture, economy, and companies in 23 U.S. states via Crypto.com's regulated exchange infrastructure.

Ownership category

akta.pro rank

Product category

Prediction Markets

NAICS

Commodity Contracts Intermediation (523160), Securities and Commodity Exchanges (523210), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Prediction Markets & Event Derivatives (Crypto) (FSADAGAG)

akta.pro secondary industries

Derivatives Trading Venues (perps, futures, options) (FSAPADAE), Sportsbook Trading, Odds & Feed Providers (MPAEAKAB)

Keywords

• Prediction markets
• Event contract trading
• Sports betting exchanges
• CFTC-regulated derivatives
• Real-time trading platform

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

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

Revenue model

1. Event Contract Trading Fees: Revenue generated from trading event contracts (prediction markets). Users pay to enter positions on sports, politics, crypto, culture, and economic outcomes.
2. Loyalty Program Integration: FanCash rewards program that incentivizes trading activity, with up to 10% FanCash earned on trades, driving user engagement and retention within the Fanatics ecosystem.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Fanatics Markets operates a real-time prediction marketplace where individual users buy and sell event contracts on the outcomes of sports matches, politics, cryptocurrency prices, culture, economic indicators, and companies. Contracts are listed, priced, and cleared on Crypto.com | Derivatives North America (CDNA), a CFTC-regulated derivatives exchange, enabling legal trading in 23 U.S. states and four territories including states where traditional sports betting is prohibited. The platform is the Official U.S. prediction market partner for the FIFA World Cup 2026 and integrates FanCash rewards through the Fanatics ONE loyalty program.

Product overview

Fanatics Markets operates as a unified prediction market platform offering real-time trading across sports, crypto, politics, culture, economy, and companies. The core platform is enhanced by the Fanatics ONE loyalty program (offering FanCash rewards up to 10% on trades), the World Cup Hub (co-branded with ADI Predictstreet for FIFA World Cup 2026), and the Complex Bets content platform (via partnership with Complex media). Additional features include Combos (RFQ-based combo trading), FanViz (live trading experience), and a Refer-a-Friend program. All trading is powered by Crypto.com's CFTC-regulated infrastructure.

Differentiator

Problem solved

Functional benefit

Brands

• Fanatics ONE: Loyalty and rewards program enabling customers to earn FanCash rewards on trades, offering up to 10% in FanCash on trades, launched alongside the FIFA World Cup 2026 as part of the partnership with ADI Predictstreet.

Products and services

• Fanatics Markets Real-time CFTC-regulated prediction market platform enabling individual users to buy and sell event contracts on outcomes of sports matches, elections, cryptocurrency prices, culture, economy, and companies. Contracts are priced as probability percentages and clear via Crypto.com | Derivatives North America (CDNA).
• World Cup Hub Co-branded FIFA World Cup 2026 prediction market hub providing dedicated event contract markets for World Cup match outcomes, tournament props, and futures, built in partnership with ADI Predictstreet (FIFA's Official Prediction Market Partner).
• Complex Bets Culture-driven sports betting and trading content platform combining Complex's youth-culture storytelling with Fanatics Markets data and insights through original programming including weekly YouTube shows and social video content.

Quantifiable outcome

• U.S. prediction market industry grew from less than $100M/month in early 2024 to over $13B/month by late 2025
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core and secondary.

• ADI PredictstreetcoreGTM or Marketing Partner · 27 May 2026ADI Predictstreet, FIFA's Official Prediction Market Partner, partnered with Fanatics Markets to launch a co-branded FIFA World Cup 2026 Hub across 23 U.S. states and four territories on May 27, 2026. The hub enables Fanatics Markets users to access the first FIFA-branded prediction market in the U.S. The platform traces ownership through Finstreet to Abu Dhabi's International Holding Company.
• ComplexsecondaryGTM or Marketing Partner · 2 April 2026Complex partnered with Fanatics Sportsbook and Fanatics Markets to launch Complex Bets, a culture-driven sports betting and trading content platform. The multiyear partnership delivers original programming including weekly YouTube show hosted by West Wilson and social video series hosted by Julia 'Juju' Adams, combining Complex's cultural storytelling with Fanatics Markets data and insights.
• Crypto.comcoreTechnology or IntegrationCrypto.com provides the CFTC-regulated exchange infrastructure through Crypto.com | Derivatives North America (CDNA), enabling Fanatics Markets to legally operate event contract trading. Customers are introduced to CDNA by Paragon Global Markets, LLC d/b/a Fanatics Markets IB, registered with the CFTC and member of NFA. CDNA serves as the exchange and clearinghouse for all event contracts traded on the platform.

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Kalshi: Kalshi is a CFTC-regulated prediction market exchange offering event contracts on sports, politics, economics, and other categories. It is the most directly comparable competitor to Fanatics Markets, sharing the same regulatory structure via U.S. designated contract markets and targeting similar consumer audiences.
• PredictIt: PredictIt is a U.S. prediction market operated under CFTC no-action letters, historically focused on political event contracts. It competes in the same regulated prediction market category as Fanatics Markets, though with a narrower product scope centered on elections and policy outcomes.
• Polymarket: Polymarket operates a crypto-based prediction market platform focused on politics, sports, and current events. While structurally different (blockchain-based), it directly competes with Fanatics Markets for sports prediction market mindshare and recently secured re-entry to the U.S. market via CFTC-licensed intermediaries.

Broad incumbents

• FanDuel: FanDuel is a major U.S. sportsbook and online casino operator owned by Flutter Entertainment. It serves the same sports betting consumer as Fanatics Markets through state-licensed platforms, representing a large incumbent competing for share of U.S. sports wagering spend.
• DraftKings: DraftKings is a leading U.S. online sports betting and daily fantasy sports operator with state-licensed sportsbooks. It competes for the same sports fan wallet share as Fanatics Markets but uses state-by-state gaming licenses rather than CFTC-regulated event contracts, and operates a much broader product portfolio.
• BetMGM: BetMGM is a joint venture between MGM Resorts and Entain offering online sports betting and casino. It competes with Fanatics Markets for U.S. sports betting customers through state-licensed sportsbooks and brings significant brand and promotional resources.

Emerging players

• Novig: Novig is a sweepstakes-based sports prediction market that operates outside of state sportsbook licensing. It is comparable to Fanatics Markets as a prediction-style platform targeting sports fans, though it uses a sweepstakes model rather than CFTC-regulated event contracts.
• Prophet Exchange: Prophet Exchange is a U.S. sports betting exchange offering peer-to-peer trading on sports outcomes. It overlaps with Fanatics Markets on sports event-based trading mechanics and target customers, though limited to sports and operating under state sportsbook licensing rather than CFTC regulation.

Regional players

• Betfair Exchange: Betfair is the world's largest sports betting exchange, operating primarily in the UK and Europe. It shares the exchange-based, peer-to-peer trading model that prediction markets like Fanatics Markets use for price discovery, though it is geographically restricted and operates under different regulatory frameworks.

Others

• Robinhood: Robinhood offers event contracts on its platform through CFTC-registered intermediaries, competing indirectly with Fanatics Markets for retail prediction market traders. While not a dedicated prediction market, its event contract offering places it in an adjacent competitive position for the same retail trading audience.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

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 Fanatics Markets