Fanatics Acquires Regulated Exchange and Clearinghouse to Launch Event Contracts

KALSHI1.53%
According to CoinDesk, sports company Fanatics today announced it will acquire Water Street Labs and CX Clearinghouse from BGC Group, obtaining federal licenses to operate an exchange and clearinghouse. The move will allow Fanatics to independently manage the listing and settlement of prediction market contracts. The company aims to accelerate event contract launches and compete directly with platforms like Kalshi and Polymarket. Fanatics Markets, launched in late 2024, currently operates across 23 U.S. states and 4 overseas territories.
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