Fanatics plans to acquire BGC exchange and clearinghouse for prediction markets
Fanatics and BGC Group said they agreed that Fanatics would acquire Water Street Labs, a CFTC-registered Designated Contract Market, and CX Clearinghouse, a CFTC-registered Derivatives Clearing Organization. Fanatics said the deal would let it operate its own federally regulated prediction-market exchange and expand contracts on Fanatics Markets; the companies also plan to develop market-data products together.
The planned acquisition would give Fanatics control of exchange and clearing infrastructure for its prediction-market platform.