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FanDuel and CME Group Ditch Sports Bets for Crypto.com Exchange

Guavy AI Editorial Team
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FanDuel and CME Group have made significant changes to their prediction market joint-venture. The partnership, which was announced less than a year ago, has seen FanDuel's parent company Flutter Entertainment revise its brokerage app to use Crypto.com's Nadex exchange instead of CME for all sports-related bets.

This change will affect around 99% of the app's activity, as only non-sports bets will continue to be executed through CME. The decision marks a significant shift in the relationship between the two companies, with CME expressing reservations about prediction market wagers involving sports.

CME CEO Terry Duffy stated that the company's goal was never focused on sports, but rather on providing infrastructure for FanDuel Predicts. This change is part of CME's focus on market-based products and its ongoing uncertainty related to sports event contracts.

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