By SectorWire desk ·
The report said that Fanatics agreed to buy Water Street Labs and CX Clearinghouse from BGC Group to develop a prediction market exchange. The assets provide registered exchange and clearing infrastructure; financial terms were undisclosed.
The planned acquisition would give Fanatics infrastructure for its own prediction market exchange.
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The purchases would give Fanatics direct ownership of exchange and clearing infrastructure.
The agreement would bring prediction-market exchange and clearing infrastructure into Fanatics.
The planned acquisition would bring exchange and clearing infrastructure into Fanatics’ prediction-market offering.
Fanatics now offers event contracts alongside sports betting and casino gaming in its app, following its regulated exchange acquisition.
The acquisition would give Fanatics direct control over additional prediction market infrastructure.
Rubin’s forecast describes potential sportsbook marketing costs amid competition from prediction markets, rather than spending already committed.