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Fanatics Snaps Up CFTC-Registered Exchange and Clearinghouse from BGC Group

Guavy AI Editorial Team
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Fanatics has agreed to buy two CFTC-registered entities from BGC Group Inc., expanding its presence in the prediction market. Water Street Labs and CX Clearinghouse, both registered with the Commodity Futures Trading Commission, will be acquired by Fanatics.

The deal covers a designated contract market where contracts are listed and a derivatives clearing organization that clears and settles them. Neither entity is licensed or overseen by state gaming regulators. Fanatics Markets, launched in December 2025 through a partnership with Crypto.com Derivatives North America, has been trading on infrastructure not owned by the company.

Matt King, chief executive of Fanatics Betting and Gaming, stated that combining BGC's institutional foundation with Fanatics' understanding of fans creates 'a unique opportunity to accelerate the growth of prediction markets.'

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