Fanatics acquires BGC Group assets to launch prediction market exchange
Fanatics is acquiring two key assets from financial technology and brokerage firm BGC Group as it prepares to launch its own federally regulated prediction market exchange. Under the deal, Fanatics will acquire Water Street Labs, a Commodity Futures Trading Commission (CFTC)-registered designated contract market, and CX Clearinghouse, a derivatives clearing organization. The acquisitions will enable…
