Fanatics Acquires Regulated Exchange to Expand Prediction Markets
Fanatics has announced its acquisition of BGC Group's federally regulated exchange and clearinghouse, allowing it to enter the prediction markets sector. This move is aimed at exploiting the growing popularity of event-based trading alongside competitors like Kalshi and Polymarket, as reported by CoinDesk.
On July 27, 2026, Fanatics revealed its decision to acquire Water Street Labs and CX Clearinghouse from BGC Group. This acquisition grants Fanatics control over its own federally regulated exchange and clearinghouse, enabling the company to launch and manage its own prediction market contracts. The financial details of the deal have not been disclosed.
This strategic move positions Fanatics to enhance its Markets platform, which debuted in late 2024 and is currently available in 23 states and four U.S. territories. With this new infrastructure, Fanatics can list and clear contracts independently, giving it the flexibility to develop new market products more efficiently.
Prediction markets, which have recently surged in popularity, allow participants to speculate on various events, including elections, inflation, and sports results. As this sector rapidly expands, Fanatics aims to leverage its vast sports audience to drive wider adoption of prediction markets. Other key players in this space include the CFTC-regulated Kalshi and the blockchain-based Polymarket, both of which have contributed significantly to the mainstreaming of prediction markets.
In addition to facilitating prediction markets, Fanatics and BGC plan to collaborate on new market data products that will integrate prediction market activities with traditional financial market data, further broadening their offerings.
As competition intensifies, traditional sportsbooks are also venturing into the prediction markets arena, with companies like DraftKings planning to launch their own platforms. Observers will be watching how Fanatics' entry influences the dynamics of this evolving market and whether it can carve out a unique position in a landscape populated by established players.
Summary based on original reporting by Helene Braun at CoinDesk, originally published Jul 27, 2026. SolanaWire does not republish source content.
Circle Acquires IBM's Blockchain Patent Portfolio, Expands USDC Capabilities
Circle has acquired nearly 1,000 blockchain patents from IBM, positioning itself as the largest blockchain patent holder in the U.S. The deal, announced on July 27, 2026, comprises 680 patent families covering various applications, including banking and supply chain verification, although the financial terms remain undisclosed, according to Decrypt.
35 minutes ago·Decrypt·Reported by Jose Antonio Lanz
Understanding Perpetual Swaps in Crypto Trading
Perpetual swaps, also known as perps, have emerged as a leading financial product in the cryptocurrency market, processing an estimated $40 to $50 trillion annually, according to CoinDesk. They provide leveraged exposure to assets like Bitcoin without expiration, utilizing a funding rate mechanism to stabilize prices.
1 hour ago·CoinDesk·Reported by Oliver Knight
Cantor Advises AMINA on Potential Public Listing Path for Crypto Bank
Swiss crypto bank AMINA is collaborating with Cantor to assess options for a public listing. While discussions regarding various routes are ongoing, the bank is considering a reverse takeover of a digital asset treasury company, according to CoinDesk.
2 hours ago·CoinDesk·Reported by Will Canny
Lido Initiates $16.5 Billion Staked Ether Migration to Optimize Validator Network
Lido has begun a significant upgrade to consolidate over 8 million staked ether, valued at $16.5 billion, onto a new architecture aimed at reducing Ethereum's validator count by one-third, according to CoinDesk. This transition includes requiring node operators to back their performance with locked ETH bonds for the first time, enhancing economic accountability within the system.
2 hours ago·CoinDesk·Reported by Olivier Acuna
Trending this week
Thailand SEC Files Complaint Against Bitkub Over 2021 $47M Hack
Thailand's Securities and Exchange Commission has filed a criminal complaint against crypto exchange Bitkub and two former directors for allegedly failing to disclose a $47 million hack in 2021, according to Decrypt. The complaint alleges false reporting and misrepresentation of customer assets during the period following the cyberattack.
7 hours ago·Decrypt·Reported by Decrypt Agent
Nvidia Leads 37-Member AI Security Alliance Amid Cyber Threats
Nvidia has partnered with 36 technology companies to establish the Open Secure AI Alliance aimed at developing open-source security tools for artificial intelligence, according to CoinDesk. This initiative comes in response to recent cyber incidents that highlight the risks of using closed AI models, as major players like OpenAI and Google are excluded from this alliance.
3 hours ago·CoinDesk·Reported by Shaurya Malwa
Securitize Expands with SEC Adviser License as Tokenization Grows
Securitize's subsidiary, Securitize Capital, has registered as an investment adviser with the SEC, enhancing its capabilities to support institutional investors, as reported by CoinDesk. This move allows Securitize to better engage with asset managers exploring investment strategies based on blockchain technology, including tokenized vaults and other products.
3 hours ago·CoinDesk·Reported by Krisztian Sandor
Bitmine Increases Ether Holdings to 5.79 Million Amidst Market Optimism
Bitmine has acquired 9,946 ether, raising its total holdings to 5.79 million ETH, valued at approximately $11.2 billion. Chairman Tom Lee attributes the purchase to a favorable ETH/BTC ratio and ether's recent price recovery, according to CoinDesk.
3 hours ago·CoinDesk·Reported by Krisztian Sandor