First prediction market from a major sports betting brand; Fanatics ecosystem. Fanatics Markets launched December 3, 2025 across 24 states using Crypto.com's CFTC-registered exchange infrastructure — bringing mainstream brand power to the prediction markets space.
Launched
December 3, 2025
States Available
24
Regulation
CFTC (via CDNA)
Exchange Backend
Crypto.com Derivatives North America (CDNA)
Fanatics Markets is the first major sports brand to launch a CFTC-regulated prediction market platform, available in 24 states via Crypto.com Derivatives North America (CDNA). Strong brand trust and broad market types, but limited state availability and dependent on third-party exchange infrastructure.
CFTC-Registered Exchange
Contracts listed and cleared through Crypto.com Derivatives North America (CDNA), a CFTC-registered DCM
Major Brand Trust
First prediction market from a major sports betting brand; Fanatics ecosystem
Available in 24 States
Including major markets CA, TX, FL, GA
Broad Market Types
Sports, finance, economics, politics in Phase 1
iOS & Android Apps
Available on both major mobile platforms
Limited to 24 States
Unavailable where Fanatics Sportsbook operates
New Platform
Launched December 3, 2025; limited track record vs Kalshi or Polymarket
Dependent on CDNA
Does not operate its own exchange; relies on Crypto.com's infrastructure
Phase 2 Markets Not Yet Live
Crypto, stocks, entertainment contracts are planned but not available yet
Not Available in Sportsbook States
Users in states with Fanatics Sportsbook cannot access the prediction market platform
See how Fanatics stacks up
Platform overview and launch details
Fanatics Markets is a prediction market platform launched December 3, 2025 by Fanatics, the sports merchandise and gaming company. It is the First prediction market from a major sports betting brand; Fanatics ecosystem in the United States.
Users trade Yes/No event contracts on the outcomes of real-world events — from sports scores and political decisions to economic indicators. Unlike traditional sportsbooks with fixed odds, Fanatics Markets uses an exchange-style model where contract prices reflect market-derived probabilities. To understand the mechanics behind this, see our guide on how prediction markets work. You can also browse our full platform directory to compare Fanatics Markets with other exchanges.
The platform is available in 24 states — Not available in states where Fanatics has a sportsbook. This makes it a legal option for sports fans in large markets like California, Texas, and Florida where traditional sports betting remains unavailable.
CFTC oversight via CDNA and Paragon Global Markets
Fanatics Markets is federally regulated — but the structure is worth understanding. The platform operates in two regulatory layers:
Crypto.com Derivatives North America (CDNA) is the CFTC-registered exchange and clearinghouse. Fanatics Markets lists contracts on CDNA's exchange — the same infrastructure that powers OG and Underdog Predictions.
Fanatics acquired Paragon Global Markets LLC in July 2025 to secure CFTC IB registration. Fanatics Markets IB (Paragon Global Markets LLC) is the CFTC-registered Introducing Broker that handles the customer-facing side.
NFA-registered Futures Commission Merchant (FCM) and Fanatics affiliate. Approved March 18, 2026.
NFA BASIC ProfileNFA-registered Introducing Broker providing access to CDNA's exchange infrastructure. Fanatics acquired Paragon Global Markets LLC in July 2025 to secure CFTC IB registration
NFA BASIC ProfileRegulation summary: Via Crypto.com Derivatives North America (CFTC-registered); Fanatics Markets IB (Paragon Global Markets LLC) is CFTC-registered Introducing Broker For more on how CFTC oversight works in the prediction market space, see our CFTC enforcement tracker and regulatory tracker.
Phase 1 live markets and Phase 2 roadmap
Fanatics Markets launched with Phase 1 markets and has announced Phase 2 expansions:
Sports, finance, economics, and politics contracts.
Launched December 3, 2025
Crypto, stocks/IPOs, climate, pop culture, tech/AI, movies, and music markets.
Timeline as announced; subject to change.
24-state coverage as of April 2026
Available in 24 states as of April 2026
Not available in states where Fanatics has a sportsbook
State availability changes frequently. States where Fanatics operates its sportsbook are excluded. Check the Fanatics Markets app or the State Checker tool for the most current list.
How Fanatics Markets fits the broader business
Fanatics Markets is part of Fanatics' broader sports and gaming business, which includes the Fanatics Sportsbook, merchandise, and collectibles verticals. The Fanatics Markets app was built specifically for the prediction market space, separate from its sportsbook operations.
The prediction market platform uses Crypto.com Derivatives North America (CDNA)'s infrastructure — the same exchange backend used by Underdog Predictions and other CDNA partners. This gives Fanatics Markets access to CFTC-registered exchange infrastructure without needing to build its own DCM from scratch.
Crypto.com's CDNA platform also powers: Fanatics Markets, Underdog Predictions, Truth Social, Hollywood.com, MyPrize, High Roller Technologies. All use the same CFTC-registered clearinghouse for settlement.
Culture-driven media and prediction market awareness
Fanatics partnered with Complex to launch Complex Bets — a culture-driven sports betting and trading media platform. The partnership integrates Fanatics Sportsbook and Fanatics Markets content into Complex's media ecosystem, targeting a younger, culture-forward audience.
Complex Bets represents a content distribution strategy — bringing prediction market awareness to audiences outside traditional sports betting media.
Side-by-side feature and fee comparison
All data sourced from our platform database. No hardcoded values. See our DraftKings review for a full breakdown, or visit the fee comparison for costs across all platforms.
| Feature | Fanatics Markets | DraftKings | FanDuel Predicts | Crypto.com |
|---|---|---|---|---|
| Regulation | CFTC DCM (via CDNA) | CFTC IB via CME DCM | CFTC via CME Group | CDNA DCM + DCO |
| Fees | Follows CDNA fee structure | $0.01/contract/side + exchange fees (~$0.02+ round-trip) | 2% of potential payout at checkout | 2¢ to open, 2¢ to close |
| Market Types | Sports, finance, economics, politics (Phase 1) | Sports, economics, politics | Sports, economics, politics | Sports, politics, economics, entertainment, financial indicators, crypto |
| State Availability | 24 states | 38 states (as of December 2025 (at launch)) | Select states; phased expansion | Available in 48 states + DC; not available in New York or Arizona. Sports contracts additionally restricted in NV, OH, MI, MD, MA, NJ, IL. |
| Exchange Backend | Crypto.com Derivatives North America (CDNA) | CME Group (Railbird Exchange acquired October 21, 2025; integration pending) | CME Group | Own exchange (Crypto.com Derivatives North America (CDNA)) |
| Launch Date | December 3, 2025 | December 19, 2025 | December 22, 2025 | February 3, 2026 (OG app) |
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