In a significant development for online gaming, FanDuel, part of Flutter Entertainment PLC, has unveiled an expansion of its FanDuel Predicts business. The company has integrated new sports and entertainment contracts, along with combination event contracts, through Crypto.com’s CFTC-regulated exchange and clearinghouse, OG Prediction Markets. This strategic move broadens the market landscape for customers, allowing for an enhanced and diverse array of product offerings.
James Cooper, Senior Vice President of Flywheel and New Ventures at FanDuel, expressed enthusiasm about the expansion. “FanDuel Predicts was built to deliver a best-in-class prediction market experience to our customers. These additional product sets give our customers more choices by expanding the breadth of sports and entertainment contracts on our platform,” he stated.
Crypto.com’s Chief Business Officer, Joe Anzures, echoed this excitement, highlighting the collaboration as a means to bring a new level of depth to FanDuel’s prediction markets. He remarked, “By leveraging our robust, regulated exchange and clearinghouse infrastructure, we are enabling a mainstream prediction markets experience just in time for the World Cup – underscoring our capability to deliver scalable, regulated derivatives infrastructure for the world’s biggest moments.”
The latest addition significantly enriches the options available to FanDuel Predicts customers, who will now enjoy access to a broader variety of markets across both sports and entertainment categories. This comes in conjunction with existing contracts available through CME Group, thereby enhancing trading opportunities for customers. The new offerings from both CME Group and OG Prediction Markets will launch just ahead of the World Cup, amplifying user engagement during this global sporting event.
FanDuel Predicts is accessible in all 50 states in the U.S., allowing customers to engage with various benchmarks such as the S&P 500 and Nasdaq-100. Users can trade on outcomes pertaining to financial markets, oil prices, gold, cryptocurrencies, and key economic indicators like GDP and CPI. Furthermore, in states without sports betting services from FanDuel, customers can still trade on sports and entertainment outcomes. Contract values range from $0.01 to $0.99, and customers can buy contracts if they believe an event will occur or sell them if they don’t.
The platform operates as part of a joint venture with CME Group. Contracts listed on FanDuel Predicts are regulated by the CFTC, and the business is registered as a futures commission merchant, part of the National Futures Association (NFA). Customers are advised to carefully review risk disclosures and terms, as trading in futures, options, and cleared swaps carries substantial risk.
CME Group is recognized as the leading derivatives marketplace globally, providing clients with access to a wide spectrum of trading options across major asset classes, which include interest rates, equity indexes, and cryptocurrencies, in addition to futures and options on futures via the CME Globex platform.
Founded in 2016, Crypto.com has quickly emerged as a prominent player in the cryptocurrency space, proudly serving millions of users around the world. The company’s commitment to accelerating cryptocurrency adoption through innovation has positioned it as a leader in regulatory compliance and security.
In summation, this collaboration between FanDuel and Crypto.com signifies a transformative leap in the prediction market space, offering users an exciting array of products just in time for one of the world’s most celebrated sporting events, the World Cup.
