Starting today, Fanatics is beginning to roll out its new prediction market product. Fanatics Markets is going live today in 10 states, then launching in 14 additional states over the next few days, according to a CNBC report.
With the launch, Fanatics becomes the first major U.S. sportsbook operator to launch prediction markets, beating anticipated new products from leading online sports betting platforms FanDuel and DraftKings to the booming market.
Fanatics Betting and Gaming CEO Matt King appeared on CNBC this morning to discuss the launch. King said the company expects the prediction market industry to grow exponentially over the next 5 to 10 years. He said Fanatics is well-positioned to compete with the industry heavyweights, Kalshi and Polymarket, as well as the forthcoming DraftKings and FanDuel products.
“We think we can deliver the best in the industry, and that’s (due to) a combination of brand, the app itself, how do you provide rewards around that and really kind of holistically present that the customer,” King said. “And, as you’ve seen in our sportsbook business as well as our iGaming business, we’re the fastest growing, we can take what Fanatics has to offer and turn it into something that’s really compelling for customers.”
Fanatics Markets targets states without legalized sports betting
The Fanatics Markets rollout focuses on states in which online sports betting is not available, but it will also be in a few states that do allow sports betting platforms to operate. The product launches today in Alaska, Delaware, Hawaii, Idaho, Maine, New Hampshire, North Dakota, Rhode Island, South Dakota, and Utah.
On Thursday, Fanatics Markets will be available in Alabama, Minnesota, Mississippi, Nebraska, New Mexico, Oklahoma, Oregon, South Carolina and Wisconsin.
Friday’s Fanatics Markets rollout hits some of the largest states in the country, including California, Florida, and Texas. The product also goes live in Georgia and Washington on Friday.
The Fanatics Markets app for Android users is currently available for free download at the Google Play store. It has yet to appear in Apple’s App Store. (UPDATE: The Fanatics Markets app for Apple users is now available.)
Fanatics Markets will feature markets powered by Crypto.com
The event contracts on Fanatics Markets will be powered by Crypto.com and will include markets for sports, finance, and culture, according to CNBC.
Fanatics users will be able to use their shared wallet to access Fanatics Markets. The Fanatics wallet connects the new prediction market platform with Fanatics’ other businesses, including its sportsbook, online casino, and licensed sports merchandising store. While those platforms all share a single loyalty rewards program, with users earning FanCash with every purchase and wager, Fast Company reports that Fanatics Markets will not be a part of the program.
There are a couple of elements from Fanatics’ iGaming products that will be carried over to Fanatics Markets that aren’t typical of most other prediction platforms. The app has built-in responsible gaming tools, allowing traders to set deposit and session limits within the app. And Fast Company reports that Fanatics Markets users must be at least 21 years old. The minimum age required to trade on Kalshi and Polymarket is 18.
Fanatics CEO Michael Rubin appeared on CNBC on Nov. 20 to break the news of the forthcoming Fanatics Markets launch, saying they were planning to go live within two weeks. King echoed some of Rubin’s comments during his CNBC appearance today about why Fanatics was getting into the prediction markets business.
“For us, the way we think about it is, ‘What do fans want to do?,’” King said. “We go into prediction markets primarily because when you talk to sports fans, this is one of the things that they’re most interested in experiencing and we know they want to do it from Fanatics. So for us, this was just a logical extension, in terms of something that sports want to have access to.”
Fanatics to face-off with Kalshi, Polymarket for market share
Fanatics Markets will face some stiff competition, as U.S. prediction market growth has accelerated in the past couple of months.
Industry first-movers Kalshi and Polymarket have dominated the headlines in recent weeks. Just this week, Kalshi — which leads all prediction market platforms globally in terms of trading volume — announced a $1 billion funding round that put its valuation at $11 billion.
Meanwhile, Polymarket announced today that it was beginning to allow more users on its waitlist to access its new U.S. app. The Polymarket US app has been beta tested over the past several weeks and a full public launch is expected soon. So far, Polymarket’s U.S. product has been limited to sports, allowing early users to trade on NBA and NFL game winners.
Against all odds.
Polymarket’s U.S app is now being rolled out to those on the waitlist.
We’re launching with sports — followed by markets on everything. pic.twitter.com/WOoVMszrqc
— Polymarket (@Polymarket) December 3, 2025
