Fanatics moves event contracts in-house with direct listing and clearing deal
Fanatics has struck a deal to directly list and clear event contracts on its own infrastructure, though financial terms were not disclosed. The move ends its reliance on the Crypto.com partnership that originally powered Fanatics Markets and positions the sports-commerce company to compete directly in the prediction-markets space. Robinhood has also pursued event contracts, indicating broader mainstream financial-platform interest in the category.
Fanatics now controls its own spreads, compliance posture, and customer data. That vertical integration mirrors moves by FanDuel, DraftKings, and Underdog, squeezing white-label providers like Crypto.com and CME Group as major operators shed external partners.
For Kalshi and Polymarket, the consolidation means stiffer competition from deep-pocketed sports brands with built-in user bases and marketing budgets that dwarf pure-play venues. Fanatics can tune pricing and risk settings without clearing through a third party. Football season opens soon. The platform that cannot match that control must now compete on liquidity alone, a harder fight as user acquisition costs spike.