Sports merchandise giant Fanatics is expanding into the prediction markets sector through a partnership with Crypto.com, CEO Michael Rubin told CNBC on Thursday.
The platform is slated to launch in the next couple of weeks, though Rubin did not provide details on its design or functionality.
Prediction markets let users bet on real-world outcomes, ranging from elections and sports to entertainment and economic indicators. While Rubin did not confirm a specific focus, Fanatics’ background in sports merchandise and sports betting suggests the platform may initially leverage those connections.
It is not yet clear whether the platform will use cryptocurrency infrastructure or how broadly it will be available, as prediction markets are legal in some U.S. states but banned in others. Regulatory approval will therefore play a key role in the rollout.
Rubin noted that Fanatics is currently licensed in 23 states but believes the remaining 27 states offer significant demand potential.
If successful, Fanatics’ new platform could rival existing prediction market operators like Kalshi and Polymarket, which have seen strong growth over the past year.
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