CME Group Loses Sports Contracts on Fanduel Predicts to Crypto.com

The CME Group is losing its sports contracts on Fanduel Predicts to Crypto.com's exchange, leaving it with only financial markets on a venture it majority-owns. According to Flutter Entertainment, which owns Fanduel, all sports and novelty contracts will move to Crypto.com, allowing for faster product shipping ahead of the NFL season. CME Group owns 51% of the Fanduel Predicts venture.

Flutter reported $6 million in market-making revenue in Q2 and guides to $50 million for 2026. The company cut its U.S. guidance by $395 million on revenue and $210 million on adjusted EBITDA. CME Group's chief executive, Terry Duffy, previously questioned the practice of operators running market-making arms on venues where they hold a financial stake.

Fanduel is shifting away from CME Group after it grew its event-contract business fastest inside CME. In Q2, CME handled roughly 525 million event contracts since launch and more than 140,000 accounts traded them during the quarter, up about 13% from the prior three months.