Fanatics has acquired a regulated exchange in a move to grow its prediction markets business. This deal gives Fanatics control of its own prediction market infrastructure.
Event-based trading has been gaining traction across sports, finance, and crypto, making this acquisition a strategic step for Fanatics. According to reporting from CoinDesk, the acquisition is intended to support Fanatics' expansion in the prediction markets space.
Prediction markets allow users to bet on the outcome of events, and having its own regulated exchange will enable Fanatics to better manage and grow this aspect of its business.