# Fanatics Markets

Fanatics' event-contract app, an FCM in front of Crypto.com's exchange, in 22 states.

*https://predictionmarkets.tools/tools/fanatics-markets · Prediction Market Venues*

## Facts

### At a glance

| Field | Value |
| --- | --- |
| Vendor | Fanatics |
| Category | Prediction Market Venues |
| Job | brokered_access |
| Website | https://fanaticsmarkets.com |
| Pricing model | commission |
| Free tier | false |
| Open source | false |
| Licence | none |
| Self-hosted | false |
| Tested hands-on | no |
| Claimed by vendor | no |
| Last updated | 2026-10-23 |

### Availability

| Field | Value |
| --- | --- |
| Jurisdictions | us |
| Open to US persons | true |
| KYC required | true |

### Markets

| Field | Value |
| --- | --- |
| Subjects | politics, sports, macro, crypto, culture, business |
| Settlement | cash |
| Resolved by | None of its own — every contract is listed and settled by North American Derivatives Exchange (Crypto.com \| Derivatives North America) under its rulebook and the contract's own terms. |

### Economics

| Field | Value |
| --- | --- |
| Taker fee | 2 |
| Maker fee | 2 |
| Other fees | Up to 2% on debit card, Apple Pay, PayPal and Venmo deposits; ACH deposits and withdrawals to a payment method carry no fee. |
| Liquidity model | clob |
| Platforms | web, ios, android |
| AI features | none |

### Interfaces

| Field | Value |
| --- | --- |
| API | false |
| WebSocket | false |
| Scripting | none |
| Python | false |
| MCP server | false |
| Export | none |

### Capabilities

Yes: live_trading, portfolio_tracking

No: charting, screening, order_book, backtesting, automation, paper_trading, calibration_scoring, cross_venue, alerts, news, tax_reporting, copy_trading

*Verified: pricing 2026-10-23; availability 2026-10-23; economics 2026-10-23; markets 2026-10-23; capabilities 2026-10-23.*

## What it is

Fanatics Markets is the event-contract app of Fanatics, the sports merchandise and sportsbook
group. Contracts trade between a cent and 99 cents and pay $1 if the outcome happens; the line-up
is mostly sports, with economics, crypto, politics, culture and company markets beside it.

**It is a broker, and the exchange belongs to somebody else.** The site footer, read on 23 October
2026, is the shortest statement of the structure: "Morton St. Trading Investments, LLC, doing
business as Fanatics Markets, is a CFTC-registered futures commission merchant and NFA member.
Contracts are offered by Fanatics Markets through Crypto.com | Derivatives North America." That
exchange is North American Derivatives Exchange, Inc., the former Nadex, which also trades as
OG.com Markets and whose rulebook the footer links.

**The structure changed once already.** Fanatics launched the app on **3 December 2025**, in ten
states, through Paragon Global Markets, LLC, an introducing broker it had acquired in July 2025
and which traded as Fanatics Markets IB. The FCM customer agreement now describes an "FCM
Transition Date" after which accounts that had traded directly on the exchange in the customer's
own name are intermediated by Morton St. as FCM and held in an omnibus account at the clearing
house. The agreement does not print the date. The IB's terms, effective 22 January 2026, are still
published alongside the FCM documents.

**An exchange of its own is announced, not built.** On 27 July 2026 Fanatics announced an agreement
to buy Water Street Labs, LLC, a CFTC-designated contract market, and CX Clearinghouse, L.P., a
derivatives clearing organization, from BGC Group, so that it can "directly list and clear"
contracts. The release gives no closing date.

**How it differs from the sportsbook.** Fanatics Sportsbook & Casino is a state-licensed product
of an affiliate, FBG Enterprises Opco, and is outside this catalogue. Here you buy an exchange-listed
contract against other participants and can sell before the event. The two are linked in one
place: under the customer agreement, any self-exclusion, limit or suspension on the sportsbook side
is imposed automatically on the Fanatics Markets account as well — a monthly limit set there caps
the value of orders placed here.

## Availability

**22 states and four territories, 21 and over, US residents only.** The "Where We're Live" page
lists Alabama, Alaska, California, Delaware, Florida, Georgia, Hawaii, Idaho, Maine, Minnesota,
Mississippi, Nebraska, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island,
South Carolina, South Dakota, Texas and Utah, plus American Samoa, Guam, Puerto Rico and the US
Virgin Islands. The launch release had named 24 states, including Washington and Wisconsin, which
are not on the list today. Read 2026-10-23.

The FCM customer agreement asks for name, US residential address, date of birth, Social Security
number, telephone number and citizenship, may ask for a driver's licence or passport, and requires
the customer to be at least **21** and of legal age in the state of residence. The risk disclosure
ends "Must be 21+ US resident." Location matters too: the disclosure warns that a position opened
where the service runs may not be closable from a jurisdiction where it does not, and the agreement
lets the FCM restrict an account it believes is being reached from a jurisdiction it has decided to
restrict.

The risk disclosure also warns that sports event contracts are under litigation and that court
orders, regulatory decisions or legislation could make them unavailable in some places.

Deposit limits, session-time limits, timeouts of 3 to 365 days and self-exclusion of at least a
year are set in the app.

## Pricing

**One fee per contract bought or sold, up to $0.02.** The FCM fee disclosure, effective 2 September
2026, charges a "Total Trading Fee of between $0.00034 and $0.02 per contract" on every contract
bought or sold, generally highest near 50 cents. Its table reads $0.02 a contract at every price
from 20 to 80 cents, falling towards both ends ($0.0188 at 17 cents, $0.014 at 5 cents, $0.0034 at
one cent, which is a third of that contract's price). At 50 cents
that is 2 cents a contract, 2% of the $1 payout, which is the figure in both fee fields: the
disclosure makes no maker-taker distinction. The fee is rounded up to the next cent across the
whole order, so a one-contract order can pay a cent where the rate is lower, and it is charged only
on orders matched on the exchange and cleared. Buying and then selling pays it twice; holding to
settlement pays it once.

The site's own "how to trade" article, dated 31 July 2026 and updated 7 October, gives a different
range, $0.0034 to $0.0275 a contract, although it was updated after the disclosure took effect.
The fields follow the legal disclosure: it is the FCM's own fee disclosure, carries the full
per-price table, and says the fee may change only within its stated range.

**Money in and out.** Debit card, Apple Pay, PayPal and Venmo deposits can cost up to 2%, disclosed
at the time of deposit; ACH deposits are free, and so are withdrawals to a linked payment method.
Wires carry no Fanatics fee but have minimums of $1,000 in and $10,000 out. Promotions may waive
deposit fees.

FanCash, the group's loyalty currency, can be earned on the app under the Fanatics ONE terms.

## Markets & resolution

Fanatics Markets resolves nothing. Every contract is listed by North American Derivatives
Exchange, settles under its rulebook and the contract's own specification, and the footer links the
exchange's separate specification documents for sports and non-sports contracts. The risk
disclosure calls them cash-settled binary options and swaps, fully collateralised: the customer
agreement requires margin in dollars covering 100% of the position before an order is accepted.

The navigation lists sports from baseball to sailing and chess, and categories for crypto,
politics, culture, the economy and companies, with season-long futures for the NFL, MLB and NBA.
Combos are priced by request for quote: the exchange sends the order to liquidity providers, who may
answer with prices. Positions can be sold before the event resolves.

The risk disclosure says the FCM is a clearing member of one or more designated contract markets
and clearing organizations, and that market makers, some possibly affiliated, may trade against
customers.

## Integrations

None for a trader. There is no published API or data export; the web app and the iOS and Android
apps are the only ways in.

## Limitations

- **A flat-topped per-contract fee.** At $0.02 from 20 to 80 cents, a 25-cent contract pays 8% of
  its price in fee, and a sale pays it again.
- **Two fee ranges on the vendor's own site.** The legal disclosure and the "how to trade" article
  disagree; the disclosure is the one this card follows.
- **22 states, and not the populous sportsbook states.** New York, New Jersey, Pennsylvania and
  Illinois are absent from the list.
- **21 and over**, where several broker apps in this category take 18.
- **A broker without its own book.** Prices, liquidity and settlement are Crypto.com's exchange; the
  BGC acquisition would change that and has no announced closing date.
- **The account history may span two legal structures**: direct exchange accounts opened through the
  introducing broker, then an FCM omnibus account. The agreement does not say when the switch
  happened.
- **Nobody here has funded an account.** Everything above is read from the Fanatics Markets legal
  pages, the FCM customer agreement, fee and risk disclosures, the IB terms and Fanatics' press
  releases, on 23 October 2026.

## Alternatives

[FanDuel Predicts](https://predictionmarkets.tools/tools/fanduel-predicts) and [DraftKings Predictions](https://predictionmarkets.tools/tools/draftkings-predictions)
are the other sportsbook operators' event-contract apps, both also routing to Crypto.com's exchange;
the [sports-operator head-to-head](https://predictionmarkets.tools/compare/sports-operator-prediction-apps) compares that group.
[Crypto.com Prediction](https://predictionmarkets.tools/tools/crypto-com-prediction-markets) and [OG.com](https://predictionmarkets.tools/tools/og) reach the same
exchange without a broker in between. [Kalshi](https://predictionmarkets.tools/tools/kalshi) is a directly accessed exchange with a
wider state map for non-sports contracts.

## FAQ

### Is Fanatics Markets the same as the Fanatics Sportsbook?

No. Fanatics Markets is a separate app whose account is opened with Morton St. Trading Investments, LLC, a CFTC-registered futures commission merchant, and the contracts are listed by Crypto.com's designated contract market. The sportsbook is run by an affiliate, FBG Enterprises Opco, under state licences, and is outside this catalogue.

### Which exchange are Fanatics Markets contracts listed on?

North American Derivatives Exchange, Inc., which does business as Crypto.com | Derivatives North America and as OG.com Markets. The site footer says contracts are offered through it and links the Nadex rulebook and Crypto.com's contract specifications.

### What does a trade cost on Fanatics Markets?

The fee disclosure, effective 2 September 2026, sets a Total Trading Fee of between $0.00034 and $0.02 per contract bought or sold, highest near 50 cents. From 20 to 80 cents it is $0.02 a contract. Card, Apple Pay, PayPal and Venmo deposits can cost up to 2%; ACH is free.

### Where is Fanatics Markets available?

In 22 states and four territories on 23 October 2026 — Alabama, Alaska, California, Delaware, Florida, Georgia, Hawaii, Idaho, Maine, Minnesota, Mississippi, Nebraska, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Carolina, South Dakota, Texas and Utah, plus American Samoa, Guam, Puerto Rico and the US Virgin Islands. You must be 21.

### Does Fanatics own an exchange?

Not yet. On 27 July 2026 Fanatics announced an agreement to buy Water Street Labs, a designated contract market, and CX Clearinghouse, a derivatives clearing organization, from BGC, to list and clear its own contracts. No closing date was announced; until then every contract comes from Crypto.com's exchange.

## Background

- [Event contract or swap, and why the label decides the case](https://predictionmarkets.tools/guides/event-contract-vs-swap.md) — Whether an event contract is a swap under the Commodity Exchange Act decides whether a state may regulate it. Three circuits have read it, and they divide.
- [How a venue changes its rules, and where you can see it coming](https://predictionmarkets.tools/guides/how-a-venue-changes-its-rules.md) — A US exchange's rule changes wait ten business days in public; a fee under a dollar a contract need not. Broker fees and offshore terms change when posted.

- [How much one account may hold, and what happens past the line](https://predictionmarkets.tools/guides/how-much-one-account-may-hold.md) — Position limits and accountability levels sound alike and work differently. Where each venue draws the line, in which unit, and what happens past it.

## Also worth comparing

- [Coinbase Prediction Markets](https://predictionmarkets.tools/tools/coinbase-prediction-markets.md) — Kalshi's event contracts in the Coinbase app, via Coinbase's own FCM, in USD or USDC.
- [DraftKings Predictions](https://predictionmarkets.tools/tools/draftkings-predictions.md) — DraftKings' event-contract app, brokered by its own FCM onto DKeX, Crypto.com and CME.
- [FanDuel Predicts](https://predictionmarkets.tools/tools/fanduel-predicts.md) — FanDuel's event-contract app, via an FCM co-owned with CME Group, onto CME and Crypto.com.
- [Lumina Markets](https://predictionmarkets.tools/tools/lumina-markets.md) — ForecastEx's economic, political and science contracts in an app of their own, no sports.
- [moomoo Prediction Markets](https://predictionmarkets.tools/tools/moomoo-prediction-markets.md) — Kalshi's event contracts inside a moomoo margin account, with order entry through its API.
- [PrizePicks Predict (Team & Culture Picks)](https://predictionmarkets.tools/tools/prizepicks-predict.md) — Kalshi event contracts sold as Team and Culture Picks inside the PrizePicks app.