Fanatics launches prediction market in 24 states [CNBC]
DraftKings Inc. - Class A (DKNG)
Company Research
Source: CNBC
The prediction market will launch in two phases, including event contracts ranging from sports and finance to tech and music. Fanatics CEO Michael Rubin previously told CNBC the company was planning to launch a predictions market as the likes of Kalshi and Polymarket explode in popularity. Online gambling has expanded rapidly in the US since 2018, when the Supreme Court freed states to legalize sports betting. Gabby Jones | Bloomberg | Getty Images Sports merchandiser Fanatics announced Wednesday it's launching Fanatics Markets, its own prediction market, in 24 states this week, including California, Texas, Florida and Washington. The platform will allow people to trade on events in sports, finance and culture, according to Fanatics, and will launch in segments across the country over the next several days. The first phase, launching Wednesday in 10 states includes contracts for sports, finance, economics and politics. Early next year, Fanatics will expand into contracts
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