Polymarket and Kalshi Get New Competitor in Fanatics
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Sport clothing and collectibles giant Fanatics has launched Fanatics Markets, letting users trade outcomes of sports, politics and more — with crypto and IPO bets coming by 2026.
By Helene Braun, AI Boost|Edited by Stephen Alpher
Dec 3, 2025, 9:18 p.m.
- Fanatics Markets will launch in phases across 24 states in the next week, letting users trade on real-world events like sports outcomes, political decisions and economic moves.
- Built in partnership with Crypto.com, the platform uses regulated infrastructure and aims to bring prediction markets to a mainstream audience.
- The move signals Fanatics’ entry into the financial products space, putting it in competition with platforms like Kalshi and Polymarket.
Fanatics is expanding beyond jerseys and collectibles into the world of real-money prediction markets. The sports merchandiser said Tuesday it will launch its new platform, Fanatics Markets, across 24 U.S. states in phases over the coming days.
STORY CONTINUES BELOW
The app, now live in 10 states and coming soon to major markets like California, Texas, Florida and Washington, allows users to trade on the outcome of real-world events. That includes contracts on sports scores, political decisions and economic shifts. By early 2026, Fanatics plans to expand into crypto prices, IPOs, tech developments, movie outcomes and more.
Fanatics Markets is built in partnership with Crypto.com. Fanatics acquired Paragon Global Markets in July, giving it regulatory clearance through the Commodity Futures Trading Commission (CFTC) and membership in the National Futures Association.
The company announced its plans to enter the prediction markets business in November in a bet to compete with powerhouses Polymarket and Kalshi, which are valued at several billions of dollars.
“With Fanatics Markets, we’re giving fans a safe and intuitive way to engage with the moments that move sports and culture,” said Matt King, CEO of Fanatics betting and gaming.
The launch reflects a broader push by Fanatics to embed financial products within its sprawling sports ecosystem. Already a giant in sports merchandise and collectibles, the company is using its brand power to bring prediction markets to a mainstream audience.
Crypto.com, which helped pioneer sports prediction markets, supplies the backend trading infrastructure. “Together we will provide fans with a safe and compliant way to access prediction markets,” said Travis McGhee, head of predictions at Crypto.com.
The Fanatics Markets app is available on iOS and Android.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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