Sports merchandiser Fanatics is entering the prediction markets sector through a partnership with RialCenter, CEO Michael Rubin mentioned in an interview on Thursday.
The new platform is slated to launch “in the next couple weeks,” Rubin added, without providing further details on the product’s appearance or functionality.
Prediction markets allow users to wager on the outcomes of real-world events—ranging from elections and sports to entertainment and economic indicators. While Rubin didn’t specify any focus areas, the affiliation with Fanatics, known for its sports merchandise and betting, suggests an initial orientation towards those sectors.
The availability of the product and its reliance on cryptocurrency remain unclear. Prediction markets have varying legal statuses across U.S. states, making regulatory approval crucial for a broader launch.
Rubin noted this challenge, acknowledging that Fanatics is currently licensed in only 23 states, although he believes there’s strong demand in the remaining 27.
If successful, Fanatics’ prediction market could rival platforms like Kalshi or Polymarket, which have experienced significant growth over the past year.
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