Fanatics Acquires CFTC-Registered Exchange for Prediction Markets
Fanatics has announced its acquisition of Water Street Labs and CX Clearinghouse from BGC Group, a deal that allows it to directly list and settle event contracts on its Fanatics Markets platform. This strategic move parallels industry competitors like DraftKings and FanDuel, who are also entering the prediction markets sector, according to Decrypt.
On July 27, 2026, Fanatics confirmed its agreement to purchase a CFTC-registered designated contract market and clearinghouse from BGC Group. The acquisition includes Water Street Labs and CX Clearinghouse, providing Fanatics the ability to list and settle event contracts directly on its sports prediction platform, Fanatics Markets, which it launched in December 2025.
This strategic decision positions Fanatics to better compete in the rapidly expanding prediction markets landscape, which has seen significant growth in recent years. By owning the exchange and clearinghouse, Fanatics aims to bypass reliance on third-party platforms, reflecting a broader industry trend.
Rival companies in the sports betting arena, including DraftKings and FanDuel, have also pursued similar paths by acquiring CFTC-regulated infrastructure. This allows them to operate in states where mobile sports betting is restricted, such as California and Texas. DraftKings notably accelerated its strategy by acquiring the exchange operator Railbird, while FanDuel has partnered with the CME Group.
Overall, the acquisition underscores the escalating competition as companies vie for market share in prediction markets. Analyst projections suggest this market segment could reach $1 trillion in trading volume by 2030. Leading platforms like Polymarket and Kalshi have experienced remarkable growth, with Kalshi alone reporting a trading volume of $33 billion in June 2026, as highlighted by Dune Analytics.
As the industry continues to evolve, it remains to be seen how Fanatics will leverage its new assets for further growth in the prediction markets sector.
Summary based on original reporting by Decrypt Agent at Decrypt, originally published Jul 27, 2026. SolanaWire does not republish source content.
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