Fanatics Expands Betting Platform Across 24 States

Fanatics, a major player in sports merchandise, is stepping into the online betting arena. The company is rolling out its new prediction platform in 24 states, including big names like Texas, California, and Florida. This isn't just about sports; users can also bet on finance and culture. The platform, called Fanatics Markets, aims to offer a safe and easy way for fans to predict outcomes and potentially profit. The launch is happening in stages. The first part went live on Wednesday, with Crypto. com as a partner. Fanatics plans to expand into other areas like crypto, stocks, and music early next year. The initial rollout covers 10 states, with more states joining in over the next few days. This move isn't a surprise. Fanatics CEO Michael Rubin hinted at this back in November. The company has been busy, acquiring PointsBet's U. S. assets for $150 million and taking over Paragon Global Markets, LLC. Despite entering the market a bit later, Fanatics seems confident about its future. Fanatics isn't new to big deals. It ended a merger with Topps and secured a multi-year deal with Shohei Ohtani. Now, it's competing with other platforms like Kalshi, DraftKings, and FanDuel. However, the rise of online betting has a downside. A report from February showed that millions of Americans have sought help for gambling addiction since the 2018 Supreme Court ruling that allowed states to legalize sports betting.