Sports apparel giant Fanatics launches prediction market with Crypto.com

Fanatics, one of the largest global sports apparel companies, announced Wednesday the launch of a fan-led prediction market platform through a strategic partnership with Crypto.com. Like industry leaders Polymarket and Kalshi, Fanatics Markets will let users trade contracts forecasting the outcomes of real-world events.

Fanatics Markets will launch in two phases, according to a news release. Phase one is live today with event contracts for sports, finance, economics, and politics. Phase two will launch early next year and see Fanatics Markets expand into event contracts related to crypto, stocks/IPOs, climate, pop culture, tech/AI, movies, and music.

"Crypto.com was the first to launch sports prediction markets, and our reach continues to grow through innovative partnerships with top-tier platforms such as Fanatics," Travis McGhee, head of predictions at Crypto.com, said in a release. "We could not be more proud to be the partner of choice for Fanatics, and together we will provide fans with a safe and compliant way to access prediction markets."

The launch comes amid a boom in prediction markets. Kalshi and Polymarket posted their strongest months ever with nearly $10 billion in combined November volume. Of note, Polymarket's return to the U.S. is underway as the app began rolling out access on Wednesday.

Crypto.com has previously announced prediction markets partnerships with Truth Social and MyPrize, among others.

Fanatics Markets will tap Crypto.com's North America derivatives subsidiary, CDNA, which is registered with the Commodity Futures Trading Commission as an exchange and clearinghouse. The app will launch today in Alaska, Delaware, Hawaii, Idaho, Maine, New Hampshire, North Dakota, Rhode Island, South Dakota, and Utah, with several more states expected to follow. 

Fanatics did $8.1 billion in revenue in 2024, a 15% year-over-year increase. With apparel licenses across most major sports leagues, the company also has a collectibles division as well as a betting/gaming division.

"For years, Fanatics has given fans new ways to enhance their fandom through team merchandise, collectibles, tickets, gaming, events and more," said Matt King, CEO of Fanatics Betting and Gaming. "Now, with Fanatics Markets, we’re giving fans a safe, intuitive and rewarding way to engage with the moments that move sports and culture, and to pick a side and profit along the way if their prediction is correct."