By The Weekly Edge desk ·
Online Poker Report reported that Fanatics agreed to buy Water Street Labs and CX Clearinghouse from BGC Group to develop a prediction market exchange. The assets provide registered exchange and clearing infrastructure; financial terms were undisclosed.
The planned acquisition would give Fanatics infrastructure for its own prediction market exchange.
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The planned acquisitions would provide Fanatics with exchange and clearing capabilities.
The agreement would bring prediction-market exchange and clearing infrastructure into Fanatics.
The purchases would give Fanatics direct ownership of exchange and clearing infrastructure.
The planned acquisition would bring exchange and clearing infrastructure into Fanatics’ prediction-market offering.
Fanatics now offers event contracts alongside sports betting and casino gaming in its app, following its regulated exchange acquisition.
The acquisition would give Fanatics direct control over additional prediction market infrastructure.