On July 27, 2026, a federal court in New York denied Kalshi’s emergency injunction bid against state officials, which aimed to block regulators from applying state gambling...
Global betting company Fanatics has announced that it has acquired a CFTC-regulated exchange and clearinghouse from BGC Group, which will allow the operator to offer in-house prediction market listing and settling.
According to the deal, Fanatics has purchased Water Street Labs as a designated contract market (DCM) and CX Clearinghouse as a derivatives clearing organization (DCO), meaning that the company now owns the full technology stack necessary for operating a prediction market and will be able to expand its event contracts on Fanatics Markets.
CEO of Fanatics, Matt King, commented:
“BGC are experts in the financial services industry and, like Fanatics, have built their business on a foundation of cutting-edge technology, innovation, and exceptional talent. By combining that institutional foundation with Fanatics’ unmatched understanding of fans and consumer engagement, we have a unique opportunity to accelerate the growth of prediction markets and deliver a best-in-class experience for both retail and institutional participants.”
Co-CEO of BGC, John Abularrage, added:
“This represents an important strategic step for BGC to expand our data and analytics capabilities while combining our institutional expertise with Fanatics’ consumer reach. No one knows the sports fan better than Fanatics, and we believe the acquisition of BGC’s DCM and DCO will supercharge Fanatics Markets.”
Additionally, Fanatics and BGC will partner to provide new market data, as the financial technology firm will supply its analytics capabilities to create client data products by mixing traditional financial markets with prediction markets.
