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Wire · opportunities

Fanatics buys regulated exchange in bid to grow prediction markets business

27 July 2026 · By · Wire by Fusion42

Published

27 July 2026

Topic

opportunities

◆ Sectors

Crypto & Web3

◆ Geography

United States

◆ Source

Read at coindesk.com →

◆ Verified

Fusion42 · 27 July 2026 · Fusion42 review

Fanatics acquires Water Street Labs and CX Clearinghouse from BGC Group, gaining control of a federally regulated exchange and clearinghouse to launch and settle its own prediction market contracts. The move positions Fanatics to compete directly with Kalshi and Polymarket as prediction markets accelerate across sports, finance and crypto.

This Wire brief sits within Fusion42's coverage of Crypto & Web3.

◆ ◆ The Wire takeaway

Fanatics just cut out the middleman by buying its own exchange and clearinghouse. If you're building prediction market data, liquidity, or settlement tools, your buyer just became your competitor—and Fanatics now controls the rails.

◆ Coverage

1 source · 27 Jul 2026

◆ Related on Wire

◆ Topics

Crypto & Web3prediction-marketsregulated-exchangem-and-afanaticsfintech-infrastructure