Fanatics Expands into CFTC-Registered Prediction Market Amid Regulatory Scrutiny of Kalshi and Polymarket

Fanatics acquisition prediction markets Kalshi Polymarket Wisconsin court ruling

Fanatics, the global sports merchandise and digital platform, announced the acquisition of a Commodity Futures Trading Commission (CFTC)-registered exchange to develop a regulated prediction‑market product that blends sports, entertainment and financial contracts.

Regulators and industry observers have raised concerns about existing prediction‑market platforms. Anthony D’Angelo, head of responsible gaming at Fanatics, likened Kalshi and Polymarket to unlicensed sportsbooks, arguing they lack the responsible‑gambling safeguards of licensed betting operators.

In a related legal development, a federal judge in Wisconsin rejected the CFTC’s request for a preliminary injunction aimed at blocking state lawsuits against Kalshi, Polymarket, Crypto.com, Robinhood and Coinbase. The ruling suggested that Wisconsin’s gambling statutes may govern sports‑related event contracts, reinforcing state authority over such platforms.

Entities: Commodity Futures Trading Commission · Fanatics · Kalshi · Polymarket · Wisconsin

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[○ 1 SOURCE] Anthony D’Angelo of Fanatics criticized Kalshi and Polymarket as unlicensed gambling platforms. (Fanatics panel at NCSL Legislative Summit)
[○ 1 SOURCE] Fanatics acquired a CFTC‑registered exchange to expand its prediction‑market offerings. (Tekedia report)
[○ 1 SOURCE] A federal judge in Wisconsin rejected the CFTC’s motion for a preliminary injunction against the state in a case involving Kalshi, Polymarket, Crypto.com, Robinhood and Coinbase. (Court documents)
[○ 1 SOURCE] Kalshi settled with the Nevada Gaming Control Board to ban its sports prediction market in Nevada. (Court filing summary)
[○ 1 SOURCE] Judge William Griesbach indicated that Wisconsin’s gambling statutes could apply to sports‑related event contracts. (Judge’s remarks in court opinion)
[○ 1 SOURCE] The CFTC filed a lawsuit against Wisconsin in April after the state sued Kalshi, Polymarket, Crypto.com, Robinhood and Coinbase. (CFTC filing)