Fanatics confirms prediction market entry with Crypto.com partnership
Fanatics confirmed its entry into prediction markets through a partnership with Crypto.com. Fanatics CEO Michael Rubin said the company will challenge DraftKings, FanDuel, and Kalshi in 2027 across sports betting and prediction markets. The announcement positions Fanatics as a direct competitor to established sportsbook operators and the regulated prediction market platform. A separate headline referenced a $1 billion ad spend by Fanatics, though that figure relates to sports betting broadly rather than prediction markets specifically.
Fanatics is choosing the same partner-dependent path Robinhood's equity stake in Crypto.com mapped out two days ago. Neither brand holds a direct CFTC exchange license, so both must route volume through Crypto.com's infrastructure and accept its compliance timeline. That dependency matters because the CFTC just sent two event-contract rules to the White House and state attorneys general are piercing preemption shields in Ohio and Tennessee.
Any regulatory action against Crypto.com or delay in its designation would freeze Fanatics' launch window while Kalshi and Polymarket keep trading. Fanatics' 2027 target gives it time, but the same gap lets licensed rivals cement liquidity network effects that partner brands cannot easily match. DraftKings' DKeX already trails Kalshi 76% to 3% in NFL volume per Needham data; Fanatics must avoid becoming another late entrant burning capital to close a share gap.