Fanatics Takes a Swing at Prediction Markets with Crypto. com

Fanatics, a big name in sports merchandise, is stepping into the world of prediction markets. They've teamed up with Crypto. com to launch a new app that lets users bet on all sorts of things, not just sports. This move is part of a bigger trend where sportsbooks are trying to attract younger audiences who are into sports, crypto, and more. The app, called Fanatics Markets, is designed for users aged 21 and up. It will be available in 10 states initially, with plans to expand to 14 more by the end of the week. The app will let users bet on live games, major league matchups, economic indicators, and elections. Future updates will include categories like crypto, pop culture, and movies. Fanatics sees this as a way to give users a platform to express their opinions and potentially profit from them. The company believes that prediction markets are becoming increasingly popular, and they want to be at the forefront of this trend. Prediction markets are not a new concept. They are an adaptation of traditional futures markets, which were originally designed to help farmers hedge against poor harvests. Today, they are used as a way to bet on future events. With greater regulatory clarity, prediction markets have seen significant growth, with weekly trading volumes reaching into the billions of dollars. Fanatics is not the only one noticing this trend. Other sportsbooks are also looking to get in on the action. The company's CEO, Michael Rubin, has expressed excitement about the potential of prediction markets, stating that customers want this product, and they are eager to provide it.