Fanatics Expands Footprint in Prediction Markets with BGC Acquisition
Fanatics has successfully acquired BGC's regulated prediction market exchange and clearinghouse, enhancing its capabilities in the cryptocurrency and sports betting sectors. This strategic acquisition allows Fanatics to compete with established players like DraftKings and FanDuel in the growing prediction markets landscape.
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Fanatics to acquire BGC prediction market exchange
Fanatics agreed to buy BGC’s regulated exchange and clearinghouse, giving it direct control of its prediction market infrastructure.
Fanatics Buys CFTC-Registered Exchange in Prediction Markets Land Grab
The deal for BGC's Water Street Labs and CX Clearinghouse lets Fanatics list and settle its own event contracts, echoing DraftKings and FanDuel as sports-betting giants scramble for a foothold in the sector.
