FanDuel to launch predictions app
FanDuel Predicts will be available in states where online sports betting is not yet legal.
US.- FanDuel and CME Group have unveiled plans to launch prediction markets through the a new FanDuel Predicts app in December. Parent company Flutter says customers not on tribal lands will be able to trade event contracts on the outcome of sporting events in states where online sports betting is not yet legal.
As new states legalise online sports betting, FanDuel will cease offering sports event contracts in those states, it said. The app will provide access to sports event contracts across baseball, basketball, football, and hockey, subject to regulatory filings. Event contracts will also be offered on benchmarks such as the S&P 500 and Nasdaq-100, prices of oil and gas, gold, cryptocurrencies and key economic indicators such as GDP and CPI.
Amy Howe, CEO at FanDuel, said: “We can’t wait to bring FanDuel’s proven approach to market innovation into this dynamic sector. Our partnership with CME Group allows us to leverage their deep market expertise built over decades while delivering the seamless, accessible experience our customers expect.”
CME Group chairman and chief executive officer Terry Duffy, added: “Our new event contracts on benchmarks, economic indicators and now sports will appeal to a new generation of potential participants who are not active in these markets today. This launch will dramatically expand our distribution and reach, connecting directly with FanDuel’s millions of registered US users.”
The daily fantasy sports operator PrizePicks recently announced a multi-year partnership with Polymarket to allow the purchase of event contracts on the company’s soon-to-launch predictions markets offering. Trump Media and Technology Group has announced plans to introduce prediction markets on its social media platform Truth Social with Crypto.com, and DraftKings has announced the acquisition of Railbird Technologies and its subsidiary Railbird Exchange to enter into the prediction markets space.
https://focusgn.com/fanduel-plans-to-launch-prediction-app-in-december