Fanatics to Acquire BGC Group Assets to Launch Prediction Market Exchange
Fanatics, a global sports platform, announced on July 27, 2026, that it will acquire a designated contract market and a derivatives clearing organization from brokerage BGC Group to launch its own prediction market exchange. Specifically, Fanatics will buy Commodity Futures Trading Commission-registered Water Street Labs, LLC and CX Clearinghouse L.P. from BGC. Financial terms were not disclosed. Fanatics Markets, launched in 2025 as the prediction markets subsidiary, allows users to trade on sports outcomes such as game winners, player milestones, and tournament champions. The platform is currently accessible in 23 U.S. states, including California, Texas, and Florida. The deal aims to expand Fanatics' prediction market offerings. The article notes that prediction market startups like Kalshi have clashed with state regulators over gambling laws, with critics arguing such platforms constitute illegal gambling. Matt King, CEO of Fanatics Betting and Gaming, stated the acquisition combines institutional foundation with Fanatics' fan engagement expertise to accelerate prediction market growth.
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