Fanatics is pushing deeper into prediction markets, striking a deal to acquire a federally regulated exchange and clearinghouse from brokerage giant BGC Group as sports-betting companies race
Fanatics is pushing deeper into prediction markets, striking a deal to acquire a federally regulated exchange and clearinghouse from brokerage giant BGC Group as sports-betting companies race to secure their own market infrastructure.
The sports platform announced Monday it will purchase Water Street Labs, a CFTC-registered designated contract market, and CX Clearinghouse, a registered derivatives clearing organization, from Nasdaq-listed BGC. Financial terms were not disclosed.
