- FanDuel announced they will launch FanDuel Predicts, a prediction market platform catering to states without a locally-regulated sports betting industry.
- As a result, FanDuel won’t be able to operate in Nevada since state regulators regard prediction markets as “unlawful”.
- The FanDuel Predicts App is set to launch in December as a separate platform.
LAS VEGAS – FanDuel officially dives into prediction markets with their announcement of the launch of FanDuel Predicts in December. The separate mobile app will allow residents in states without legal sports betting to trade event contracts on the outcome of sporting events, as well as benchmarks like the price of cryptocurrency, oil and gas, and even the S&P 500.
“We can’t wait to bring FanDuel’s proven approach to market innovation into this dynamic sector,” said FanDuel CEO Amy Howe, in a release. “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.”
Popular prediction markets like Kalshi and Polymarket have proved to be worthy competition for even the biggest legal online sportsbooks, so now FanDuel will join the fray with their own predictions app. FanDuel Predicts will launch in December of 2025, allowing residents across the U.S. to get in on the action for sports outcomes and other miscellaneous predictions.
“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,” said CME Group Chairman & Chief Executive Officer Terry Duffy. “This launch will dramatically expand our distribution and reach, connecting directly with FanDuel’s millions of registered U.S. users.”
Prediction Market Launch Keeps FanDuel Out Of Nevada
The decision to roll out FanDuel Predicts comes with consequence. According to a letter from the Nevada Gaming Control Board released just minutes after the announcement of FanDuel Predicts, FanDuel will no longer be able to operate in Nevada.
“It has been made clear to the Board that Flutter Entertainment/FanDuel and DraftKings intend to engage in unlawful activities related to sports event contracts. This conduct is incompatible with their ability to participate in Nevada’s gaming industry.”
FanDuel currently operates in Las Vegas through a retail sportsbook partnership with Boyd Gaming at the Fremont Hotel and Casino. DraftKings also announced a competing prediction markets platform, resulting in them withdrawing their inactive license application in Nevada.
Unlike FanDuel, DraftKings never got started in Nevada since they don’t currently have a physical betting location, which is required by the state in order for residents to register for digital betting platforms. But this begs the question, will more states with legal sports betting take action against FanDuel and DraftKings as Nevada did?
