Fanatics launched its Fanatics Markets event-trading product in 10 US markets on Wednesday, the company said. It covers sports, finance and culture, with expansion into other areas planned for next year. State regulators have warned that sports event contracts could affect sportsbook licences.
The rollout tests event trading in markets where Fanatics Sportsbook is not operating, amid state-level licensing concerns.
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Kalshi ranked fourth among US sportsbooks by adjusted handle per adult in March, according to estimates from Eilers & Krejcik Gaming (EKG). EKG’s model differs from conventional sportsbook handle measures and includes volume through partners such as Robinhood Markets and Coinbase Global. The firm estimated prediction markets generated about $2bn in US monthly handle in March 2026.
Gemini launched its Gemini Predictions platform across all 50 US states, the company said. The rollout followed the CFTC’s grant of a Designated Contract Market licence to Gemini Titan, and the platform initially excludes sports-related contracts.
State gaming regulators have warned sportsbooks against offering prediction markets based on sports event contracts, saying they breach sports betting laws, according to the report. Kalshi and other platforms maintain that state gaming laws do not apply to their federally regulated contracts, while established sportsbook operators are moving ahead with prediction-market entries.
Fanatics launched its Sports & Casino app in the United States on 2 September, combining sportsbook, online casino and prediction-market products, according to the company. The app uses one account and a shared FanCash balance, while available products change according to the customer’s location; the source says its sportsbook operates in 23 states and Washington, DC, and its casino in four states.
Fanatics agreed to acquire Water Street Labs and CX Clearinghouse from BGC Group, the companies said. Water Street Labs is registered with the CFTC as a Designated Contract Market and CX Clearinghouse as a Derivatives Clearing Organization; Fanatics and BGC also plan to develop a prediction markets ecosystem for retail and institutional users.