The sports category covers matches across all of the favorite leagues in North America, including the NFL, NBA, MLB, NHL, and more. It also covers international sports like soccer.
Fanatics Markets: Prediction Market Expert Review
No Deposit Fees Through Jan. 12
Why Try Fanatics Markets?
Pros
- Run by the same reputable company behind Fanatics Sportsbook and Casino.
- Live in 24 states.
- Soon expanding into weather and crypto prediction markets.
No Deposit Fees Through Jan. 12
Fanatics Markets is a new prediction market where users can trade event contracts based on sports and a few other expanding categories. Notably, it was the first prediction market to be launched by a licensed U.S.-based sportsbook. (FanDuel and DraftKings soon followed Fanatics’ lead.)
Fanatics Markets is hosted on the popular Fanatics mobile platform, alongside the sportsbook. However, the markets and prices are powered by Crypto.com | Derivatives North America (CDNA), Fanatics’ official partner in this new venture.
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Put Your Opinions to Work at Fanatics Markets
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Understandably, many people unfamiliar with prediction markets may confuse Fanatics Markets for the usual sportsbook. However, the two platforms are distinct, and while the markets may appear similar, mechanics like odds, pricing, and trading/betting are different.
Fanatics Markets is easy to master once you understand how it works. Notably, there’s a limited-time offer of no fees on all deposits through January 12, 2026.
Fanatics Markets promo code & bonus offer
Fanatics Markets doesn’t offer bonuses and promotions in the traditional sense. To this end, it doesn’t require promo codes. However, there’s an ongoing exclusive offer for new users: waivers on all deposit fees through Jan. 12, 2026.
Notably, a 2% deposit processing fee will kick in after January 12. It will apply to deposits via all payment methods except wire transfer. However, wire transfer has a minimum deposit limit of $1,000, which can be restrictive for some users.
Notably, this is not a free-money bonus, but rather an opportunity for users to save money on deposit transactions – the savings can be substantial for high-volume traders.
What is Fanatics Markets?
Fanatics Markets is a prediction trading platform where users can buy and sell contracts on the future outcomes of various events. For example, you can buy contracts on whether or not the Nuggets will win the next NBA match, whether the Fed will raise interest rates, and more.
Interestingly, with prediction markets, unlike sports betting, prices reflect the consensus probability and are dynamic. To this end, if a contract is priced at $0.70, it means that it has a 70% probability of coming true.
The platform currently offers prediction markets in sports, politics, and financials/economics. Moreover, it plans a Phase Two expansion in early 2026, adding cryptocurrency, stocks/IPO, technology/AI, entertainment/culture, and the weather/climate.
This is interesting, considering that it was expected to focus solely on sports, like the Underdog prediction market. To this end, Fanatics Market may well rank among bigger, older prediction markets over time.
Where can you use Fanatics Markets?
Here’s the list of legal and live states for Fanatics Markets.
- AL, AK, CA, DE, FL, GA, HI, ID, ME, MN, MS, NE, NH, NM, ND, OK, OR, RI, SC, SD, TX, UT, WA & WI
You can see that it’s a different list from the states where Fanatics Sportsbook is operational.
Notably, Fanatics Market operates in partnership with Crypto.com | Derivatives North America (CDNA). CDNA provides and powers the markets and trading mechanics, while Fanatics hosts the content on its mobile platform.
This partnership is strategic for two main reasons. First, CDNA is regulated at the federal level by the Commodity Futures Trading Commission (CFTC). Second, Crypto.com is older and has more experience in the prediction markets industry.
How does Fanatics Markets work?
Fanatics Markets, like any other prediction market, works more like an exchange than a sportsbook. Here’s a breakdown of how it works:
Event contracts explained
Users buy and sell event contracts, which are essentially official predictions of future outcomes. The contracts are binary since every event has only two potential outcomes: Yes or No.
The events are framed as questions. For example, “Will team X win the Super Bowl?” or “Will President Trump fire the current Fed Chair?” The questions can be more complex with more options to choose from, but you always pick “Yes” or “No” on your desired outcome.
Contracts are priced between $0 and $1 during trading. Winning contracts are settled at $1, while losing contracts are settled at $0.
Real-time price movement
Prices are dynamic and can change for various reasons. The two biggest reasons why prices change is because of market activities (buying and selling) and developments in the particular event (such as news breaks). Interestingly, users can trade both sides strategically.
Profit & loss
Profits and losses are easy to calculate: settlement price ($1 for winning contracts or $0 for losing contracts) – purchase price. For example, if you purchase a contract at $0.70 and receive $1 after winning, your profit would be ($1 – $0.70) $0.30. In contrast, you would lose $0.70 ($0 – $0.70) if the contract failed. Supposing you bought ten positions in both “Yes” and “No” outcomes, your profit or loss would be $3 (10 x $0.30) or $7 (10 x $0.70), respectively.
Trading window
Users must place their trades while the markets are still open. Notably, markets may close hours or minutes before events start, depending on the contract’s terms and conditions.
Responsible tools & consumer protections
Prediction markets are speculative and can thus be risky, just like sports betting. Fortunately, Fanatic Markets offers various responsible trading tools to help protect users. For example, there are deposit limits if you are worried about spending too much. There are also time-outs and self-exclusion options if you are concerned about spending too much time on the platform.
How to get started on Fanatics Markets (accounts, deposits & buying positions)
Getting started as an event contracts trader at Fanatics Markets is easy. Here’s a quick step-by-step guide on how to go about it:
1
Create and verify your Fanatics Markets account.
You will need to create a user account on the Fanatics Markets platform to access the trading mechanics. As such, fill out the registration form – only basic details are required, like your name, phone number, address, and more. You’ll also need to verify your identity.
2
Make a deposit.
Next, you need funds in your account to start buying positions on the platform. As such, make a deposit via any of the available payment methods, which include:
-
- Credit/debit cards
- Mobile payments (Google Pay and Apple Pay)
- Digital wallets (PayPal)
- Bank transfers
Deposit transactions are instant. While transactions are currently fee, Fanatics Markets will introduce a 2% processing fee from January 12, 2026.
3
Choose a position.
Choose your preferred payment method and deposit money into your Fanatics Markets wallet. Next, navigate to the markets and explore the available event contracts. Choose one or more events that you are confident you can predict accurately and pick Yes or No next to the various outcomes to enter a position. Enter how much you want to invest and confirm the transaction.
4
Sell positions if you want.
Fanatics Markets has an early exit option. As such, you don’t have to wait for events to conclude – you can sell your positions early to limit your losses or lock in your profits. However, it’s worth mentioning that early exit only works when the market has sufficient liquidity.
5
Make withdrawals.
Finally, you can withdraw your winnings via various payment methods, including PayPal. However, it is worth noting that withdrawal limits can vary by state.
What you can predict on at Fanatics Markets
While Fanatics is primarily popular for its sportsbook and sports merchandize, Fanatics Markets isn’t limited to sports events. It currently covers the following four niches:
Sports
Elections (politics)
While this category mostly focuses on elections, it also spans broader political developments like nominations and appointments.
Economics
This section covers important economic developments like policy decisions, jobs reports, inflation levels, and more.
Moreover, the platform is set for a Phase Two expansion in early 2026 with plans to add the following niches:
Cryptocurrency
This section will cover developments in the cryptocurrency markets, such as whether Bitcoin will reach a certain target price.
Entertainment
Also titled as Culture, this category will cover developments in the entertainment industry, such as whether a certain actor will win a certain award, whether a new movie will be a hit or a miss, and much more.
Weather
Also titled climate, this category will cover weather events like whether it will snow or rain.
Current events
This is a broad category that technically covers any new events that cause a lot of buzz. It can cover events in politics, entertainment, climate, and more.
Pros when choosing an online casino
- Fanatics is already popular with millions of sports fans who use it for betting or sports merchandize. It is a reputable, trusted brand, which helps our new weary users at ease, giving them the confidence they need to try out the new Fanatics Markets and join other traders. Notably, a large user base is essential in prediction markets since liquidity depends on trade volumes.
- Fanatics Markets is hosted within the larger Fanatics digital ecosystem, alongside the sportsbook and e-commerce store. To this end, while the trading mechanics are new and different, the platform and general infrastructure are the same. As such, the user experience feels familiar, which makes onboarding easy for the current Fanatics users.
- While other sportsbooks launch sports-only prediction markets, like Underdog Predict, Fanatics Markets goes beyond the game. It currently covers a few other categories besides sports, including elections (politics) and economics. Moreover, it is planning a Phase Two expansion, where it will add more categories like cryptocurrency, entertainment/culture, the weather, and current events.
- Prices and odds in prediction markets aren’t fixed, unlike in traditional sports betting. They change in real time based on market activity, meaning that traders essentially set the odds. Their dynamic nature allows users to trade volatility, much like they would with other financial instruments, such as stocks – trades become more than just a simple wager. Moreover, sophisticated traders can hedge their trades.
- CDNA, which powers Fanatics Markets, is fully regulated by the CFTC. Moreover, the platform offers various responsible trading tools to help users minimize the underlying risks. For example, users can set deposit limits to avoid overspending. They can also take breaks from trading using the time-out and self-exclusion options.
Cons to look out for
- Fanatics Markets is launching its event contracts in two phases. Phase One, the platform’s initial launch, saw it offer three categories: sports, elections, and economics. It is now planning a Phase Two expansion for early 2026, where it will launch more categories. While the coming expansion is exciting, it also means that the currently available markets are limited. It’s also worth noting that market availability can vary by state.
- While Fanatics Markets is legal because of its partnership with CDNA, not every state sees it that way. Many states are cracking down on prediction markets, accusing them of operating like illegal betting platforms. To this end, sports-based event contracts are already restricted in a few states, such as New York. It’s also worth noting that prediction markets are still a new niche, and the current federal and state regulations may change and become stricter over time.
- Volatility in prediction markets is like a double-edged sword. It can be extremely high, especially for live events. While sophisticated traders can make profits from trading volatility, sharp and unpredictable swings can lead to losses. Unfortunately, volatility is worse when there is low liquidity, which is often a problem when new prediction markets like Fanatics Markets are just starting out.
- Fanatics Markets plans to introduce a 2% deposit fee from January 12, 2026. It will apply to all deposits via all methods except bank transfer, which has a minimum deposit limit of $1,000. While the fee may appear small at first, it will add up over time, especially if you make small deposits frequently.
- Since Fanatics is mostly popular for sports betting, many users confuse Fanatics Markets with an ordinary sportsbook. Additionally, many people interested in prediction markets don’t quite understand how they work. To this end, many users take some time to get through the steep learning curve.
Kalshi vs. Fanatics Markets
As a prediction market reviewer, I always find it useful to compare new prediction sites to Kalshi—arguably the most established player in this burgeoning online gambling alternative.
| Feature | Kalshi | Fanatics Markets |
|---|---|---|
| Market breadth: | Covers a wide range of categories, including sports, politics, economics, entertainment, technology, the weather, and more. | Currently covers only three categories – sports, politics, and economics – with plans to roll out more categories in early 2026. |
| Currency: | USD | USD |
| Trading: | Yes | Yes |
| Users: | News followers, sports fans, and more. | Primarily sports fans. |
| Legality: | Regulated in the U.S. by the CFTC. | Partners with CDNA, which is regulated in the U.S. by the CFTC. |
If you’re curious how Fanatics Markets compares to Polymarket, check out that review from PlayUSA as well.
Frequently Asked Questions (FAQs)
Yes, Fanatics Markets is a legal prediction market authorized to operate in the United States. Its partner, CDNA, which provides the markets and trading mechanics, is regulated in the U.S. by the CFTC.
Currently, Fanatics Markets is live and operational in 24 states. This number could grow soon.
Fanatics Markets currently offers event contracts in three categories: sports, elections, and economics. It also plans to expand its categories soon, with planned additions including cryptocurrency, entertainment, technology, current events, and more.
The deposit fee applies to all methods except bank wire transfer. However, the minimum deposit limit via bank transfer is $1,000, which is restrictive. Nevertheless, many prediction markets charge transaction fees, and you can minimize the costs by making bigger deposits less frequently.
You can make deposits and withdrawals via various methods. Credit and debit cards like Visa and MasterCard are accepted for deposits. Other popular options include digital wallets like PayPal, Google Pay, and Apple Pay. You can also use bank transfer, but you should note that the minimum deposit limit is $1,000.
Fanatics Markets differs from traditional sports betting platforms in several ways. Most notably, instead of placing bets, users buy and sell event contracts. Moreover, prices/odds fluctuate, unlike the fixed odds in sportsbooks. Fanatics Markets also goes beyond sports, covering events in politics, economics, and other categories.
Final verdict and who Fanatics Markets is right for
Fanatics Markets breaks away from the sports-only prediction markets by peer sportsbook operators like Underdog. Besides sports, it also offers event contracts in economics and politics, with more categories coming soon. This broad and ambitious approach shows great potential, especially considering that the platform powering the markets, CDNA, is also expanding.
While Fanatics Markets is still relatively new, it has the advantage of access to a large user base already primed for the prediction markets, thanks to its popular sportsbook. And, with the prediction market platform integrated into the Fanatics ecosystem, onboarding will be easy for current Fanatics users.
