Fanatics Strikes Deal to Acquire CFTC-Registered Infrastructure for Prediction Markets

Global sports platform Fanatics plans to offer its own federally regulated prediction market exchange after acquiring Water Street Labs and CX Clearinghouse from BGC Group . Fanatics and BGC Group agreed to the acquisition, Fanatics said in a Monday (July 27) press release . Water Street Labs is a Commodity Futures Trading Commission -registered designated contract market (DCM), while CX Clearinghouse is a CFTC-registered derivatives clearing organization (DCO), according to the release.