Fanatics has integrated its FanCash loyalty currency into Fanatics Markets, its prediction markets platform, letting users earn and redeem rewards program currency on event-contract trades. Fanatics is also building a standalone prediction markets product through a partnership with Crypto.com, which will provide infrastructure for derivative trading. The product will be part of a new all-in-one betting app combining sportsbook, casino, and prediction markets.

Fanatics' dual moves collapse the distance between sportsbook loyalty programs and prediction market trading. FanCash lets sports bettors carry reward psychology into event contracts, a bridge no CFTC-registered rival has built. The Crypto.com partnership answers the infrastructure problem that keeps sportsbooks from launching fast: derivative rails without building from zero. For Kalshi and Polymarket, a well-funded sportsbook entrant with built-in user retention mechanics and a settled tech stack is a new competitive category. Fanatics' all-in-one app, combining sportsbook, casino, and prediction markets, risks siphoning users who would otherwise migrate to standalone regulated venues. The NFL season timing means Fanatics enters when user acquisition costs peak and loyalty incentives can lock in bettors before rivals match them. Fanatics can price market-making losses against casino and sportsbook margins, a cross-subsidy pure prediction platforms cannot replicate.