Fanatics is taking another big swing outside of its familiar sports-merchandising lane, rolling out a brand-new prediction market platform that lets users trade on everything from sports outcomes to economic data… and eventually, even pop culture moments. 

The company announced Wednesday that the platform, called Fanatics Markets, will go live across 24 states over the next few days.

It’s another big move for Fanatics, which already touches nearly every corner of the fan experience… merchandise, collectibles, tickets, sports betting and live events. Now the company is venturing into event contracts.

The rollout will happen in two phases. The first launches Wednesday in 10 states and includes markets tied to sports results, financial indicators, political races and big-picture economic releases. Fanatics says it plans to expand the offering early next year to include crypto price events, IPOs, music awards, film releases and tech-industry milestones.

If that sounds like a crowded arena, it is. Platforms like Kalshi and Polymarket have surged in popularity as consumers get more comfortable mixing financial speculation with the kinds of events they normally argue about on social media. 

Big-name gaming operators are following suit too. DraftKings jumped in through an acquisition this fall, and FanDuel is preparing a platform of its own with CME Group.

But Fanatics Betting & Gaming CEO Matt King thinks the company has an edge that’s hard to replicate: name recognition. According to King, consumers are far more willing to try something new when it comes from a brand they already interact with.

“When you’re asking people to deposit money and give you sensitive information, trust is everything,” King said. “That’s where our brand really matters.”

To support the launch, Fanatics acquired Paragon Global Markets, a CFTC-registered introducing broker that gives the company the regulatory footing needed to operate legally in the event-contracts world. 

The platform will use pricing provided by Crypto.com’s derivatives unit, while giving customers access to a shared wallet connected to the larger Fanatics ecosystem… meaning a single balance will work across merchandise, sports betting, and now prediction markets.

King emphasized that Fanatics carried over all of its responsible-gaming features, including deposit caps, session limits and time-outs, which will apply across the company’s apps.

“We wanted people to feel like this is something they can approach thoughtfully,” he said.

Fanatics Markets will start rolling out Wednesday to Alaska, Delaware, Hawaii, Idaho, Maine and several other states, with more added Thursday. Major markets including California, Florida and Texas will go live Friday.

“It’s still early days for prediction markets,” King said. “But we think the upside over the next decade is enormous.”

At the time of publishing this article, Stocks.News holds positions in Bitcoin as mentioned in the article.