Fanatics has completed the acquisition of BGC Group to secure full ownership of its prediction markets technology stack. The transaction, announced on July 28, 2026, transfers Water Street Labs and CX Clearinghouse to Fanatics Markets.
The acquired divisions provide regulated trading and clearing operations. Water Street Labs functions as a Designated Contract Market registered with the Commodity Futures Trading Commission, and CX Clearinghouse operates as a CFTC-accredited Derivatives Clearing Organisation. This infrastructure enables Fanatics Markets to manage its entire prediction markets pipeline directly.
Data Development and Market Position
Fanatics plans to work with BGC Group to launch new market data streams and build client analytics tools that merge prediction market sentiment with standard financial indicators. Matt King, CEO of Fanatics Betting and Gaming, stated that the acquisition supports platform growth and service improvements for both retail and institutional users. John Abularrage, co-CEO of BGC Group, added that the arrangement aligns institutional trading expertise with Fanatics' consumer network to increase institutional participation.The purchase follows Fanatics' earlier acquisition of Paragon Global Markets and a commercial partnership with Crypto.com, both established to position the company within the prediction markets sector. The platform also introduced a Combos feature in April to support multi-outcome wagering. Information provided by Jonny Whitfield on July 28, 2026.