FanDuel Partners with CME to Offer Prediction Markets
FanDuel is entering the prediction market industry, but the controversial sports contracts aren’t specifically mentioned as potential offerings.
- FanDuel announced it will start a new joint venture with CME Group to offer financial prediction markets to the sportsbook’s customers.
- The two companies hope to "attract a new generation of potential traders."
- FanDuel’s prediction markets are subject to review by federal regulators.
The top sportsbook and iGaming operator in the U.S. announced a "groundbreaking" partnership with derivatives marketplace company CME Group to launch financial event contract products to FanDuel’s customers.
"Partnering with CME Group will unlock our ability to bring even more new and engaging products to FanDuel’s fast-growing customer base," Amy Howe, CEO of FanDuel Group, said on Wednesday. "We believe there is potentially a wide audience for trading event-based markets and we want to provide a platform that allows our customers to engage in this activity."
The prediction markets that will be available later this year will include stock market indexes S&P 500 and Nasdaq-100, oil and gas prices, gold, cryptocurrencies, and "key economic indicators such as GDP and CPI."
What about sports?
There was no mention of sports event contracts, like what federally-regulated prediction platform Kalshi currently offers to all 50 U.S. states. FanDuel did say that "further details of additional offerings (are) to be determined in the coming months," and the operator would only confirm what was in the official press release.
FanDuel said its joint venture will "operate a non-clearing futures commission merchant (FCM) that will facilitate access to these event-based contracts through FanDuel.
FanDuel is entering the prediction market industry, but the controversial sports contracts aren’t specifically mentioned as potential offerings.
- FanDuel announced it will start a new joint venture with CME Group to offer financial prediction markets to the sportsbook’s customers.
- The two companies hope to "attract a new generation of potential traders."
- FanDuel’s prediction markets are subject to review by federal regulators.
The top sportsbook and iGaming operator in the U.S. announced a "groundbreaking" partnership with derivatives marketplace company CME Group to launch financial event contract products to FanDuel’s customers.
"Partnering with CME Group will unlock our ability to bring even more new and engaging products to FanDuel’s fast-growing customer base," Amy Howe, CEO of FanDuel Group, said on Wednesday. "We believe there is potentially a wide audience for trading event-based markets and we want to provide a platform that allows our customers to engage in this activity."
The prediction markets that will be available later this year will include stock market indexes S&P 500 and Nasdaq-100, oil and gas prices, gold, cryptocurrencies, and "key economic indicators such as GDP and CPI."
What about sports?
There was no mention of sports event contracts, like what federally-regulated prediction platform Kalshi currently offers to all 50 U.S. states. FanDuel did say that "further details of additional offerings (are) to be determined in the coming months," and the operator would only confirm what was in the official press release.
FanDuel said its joint venture will "operate a non-clearing futures commission merchant (FCM) that will facilitate access to these event-based contracts through FanDuel.