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Fanatics beats sports betting rivals to the punch as Fanatics Markets goes live in 24 states
The platform has gone live in 24 states, including California and Texas as the predictions market race continues to heat up
Fanatics became the first major sports betting company to launch an event‑trading product last week as Fanatics Markets launched in 24 states across the US.
The platform offers event trading on sports, finance and cultural events, with plans to expand into other markets such as crypto, stocks, tech, and music in 2026.
The original launch took place in 10 states with residents of Alaska, Delaware, Hawaii, Idaho, Maine, New Hampshire, North Dakota, Rhode Island, South Dakota and Utah the first to see Fanatics Markets in a live environment.
Alabama, Minnesota, Mississippi, Nebraska, New Mexico, Oklahoma, Oregon, South Carolina and Wisconsin followed a day later, with California, Florida, Georgia, Texas and Washington the final additions on Friday, 5 December.
“For years, Fanatics has given fans new ways to enhance their fandom through team merchandise, collectibles, tickets, gaming, events and more,” Fanatics Betting and Gaming CEO Matt King said in a statement.
“Now, with Fanatics Markets, we’re giving fans a safe, and intuitive way to engage with the moments that move sports and culture, and to pick a side and profit along the way if their prediction is correct.
“This is really the top of the first inning on a market that’s going to grow exponentially over the next five to 10 years, so we’re not worried about being a couple months behind,” King told CNBC.
The move comes as more ‘traditional’ betting and gambling companies look to move into the prediction markets space, with platforms such as Polymarket and Kalshi having become popular since the legalization of sports betting. The combined trading volume of such markets reached $28bn for the year through October, according to data from Crytpo.com, who will offer the pricing on Fanatics Markets.
Sports betting rivals including FanDuel and DraftKings have also announced plans to launch similar platforms, though these moves have increased tensions with regulators and the sports betting industry, with issues including taxation and regulation meaning prediction markets continue to operate in a grey area.
Nevertheless, at present, sportsbook operators are taking the chance to operate prediction markets in states where sports betting is not legal, even as some state regulators have warned that operating prediction markets could put their licences in jeopardy.