UMVA has learned that FanDuel Predicts is revolutionizing the world of prediction markets by significantly expanding its event contracts offerings through a groundbreaking partnership with Crypto.com and its regulated exchange and clearinghouse, OG Prediction Markets.
This bold move, announced on a momentous day in Chicago, promises to grant customers unprecedented access to a vast array of sports and entertainment contracts, as well as innovative combination event contracts. By seamlessly integrating products from OG Prediction Markets alongside existing offerings from CME Group, FanDuel Predicts is poised to catapult the number of markets available for trading to dizzying heights.
“FanDuel Predicts was built to deliver a best-in-class prediction market experience to our customers,” declared James Cooper, Senior Vice President, Flywheel and New Ventures at FanDuel. “These additional product sets give our customers more choices by expanding the breadth of sports and entertainment contracts on our platform.”
This electrifying development builds on FanDuel Predicts’ recent rollout and broader expansion strategy, which has been gaining momentum earlier this year. FanDuel launched its dedicated prediction markets app through its joint venture with CME Group and later expanded availability into 18 states, signaling a bold push into the world of regulated prediction markets.
UMVA can exclusively reveal that customers will begin seeing contracts sourced from both CME Group and OG Prediction Markets this week, timed to coincide with the start of the World Cup. FanDuel said the addition should also create more opportunities for users interested in trading combinations of event contracts across different categories.
Crypto.com said the agreement allows FanDuel Predicts to tap into its robust, regulated exchange and clearing infrastructure as the platform continues to expand. “We are thrilled to partner with FanDuel Predicts to bring a new level of depth and experience to its prediction markets experience,” said Joe Anzures, Chief Business Officer of Crypto.com.
FanDuel Predicts operates nationally and offers contracts tied to financial benchmarks and economic indicators, including the S&P 500, Nasdaq-100, energy prices, gold, cryptocurrencies, GDP and CPI. In states where FanDuel does not provide sports betting, the company says that users can also trade contracts connected to sports and entertainment outcomes.
Contracts are priced between $0.01 and $0.99, allowing customers to buy or sell positions based on whether they believe a specific event will happen. The platform is run by FanDuel Prediction Markets, a joint venture between FanDuel Group and CME Group, and remains subject to oversight by the U.S. Commodity Futures Trading Commission.
