preferred on
Point of Focus
- FanDuel Predicts is moving all sports and novelty contracts from CME Group to Crypto.com.
- CME will remain the venture’s majority owner and continue supplying financial contracts.
- FanDuel Predicts remains in investment mode after slower-than-expected first-half progress.
Flutter Entertainment is moving all sports and novelty event contracts on FanDuel Predicts to Crypto.com as it expands its prediction-market offering and builds a separate, fast-growing liquidity business.
The change leaves CME Group, the 51% owner of the FanDuel Predicts joint venture, supplying financial contracts to the platform. Crypto.com will become the primary exchange supporting sports, entertainment, and other non-financial markets.
Flutter said the arrangement will significantly expand the contract catalog available to customers while delivering a modest economic benefit.
Crypto.com takes over sports contracts
FanDuel Predicts launched in December 2025, with CME supplying event contracts covering major sports. Crypto.com joined as a second exchange provider in June, adding entertainment markets and parlay-style combination contracts.
Less than two months later, Crypto.com is taking over the platform’s entire sports and novelty catalog.
CME and FanDuel are scaling back a joint effort to take on prediction market startups after failing to gain traction in a booming industry that has quickly come to represent a threat to both Wall Street exchanges and traditional sportsbooks https://t.co/4xbatTpbfd
— Bloomberg (@business) August 6, 2026
The change follows comments from CME Chairman and CEO Terry Duffy, who argued that some sports prediction products resemble gambling, particularly small combination contracts. CME will remain involved in FanDuel Predicts but will concentrate on financial markets.
Flutter CEO Peter Jackson said the broader Crypto.com catalog was more important than the limited financial upside from the switch. The company expects the expanded offering to strengthen FanDuel Predicts ahead of the National Football League season in the US.
Market making targets $50 million
Alongside its consumer platform, Flutter is rapidly developing a separate market-making operation.
The business generated $6 million in second-quarter revenue, and Flutter now expects approximately $50 million in both revenue and adjusted EBITDA benefits from the operation in 2026.
FanDuel-owner Flutter on prediction markets:
-still seeing "limited cannibalization impact" in states with legalized online sports betting
-PM progress in H1 of 2026 "slower than planned," but "gaining traction"
-Expect to generate ~$50M in market-making revenue this year pic.twitter.com/mP5YQDHVxt— Geoff Zochodne (@GeoffZochodne) August 5, 2026
Flutter plans to provide liquidity across multiple prediction platforms, although executives declined to identify its current partners.
CFO Rob Coldrake said Flutter can use the pricing, trading, and risk-management capabilities developed through its sportsbook business to compete in complex and correlated event markets.
The company sees particular potential in combination contracts, which require multiple related outcomes to be priced together.
Expansion comes despite a slow start
FanDuel Predicts itself has progressed more slowly than Flutter anticipated. Its second-quarter revenue was not material, and the company expects second-half gross revenue to be offset by customer-acquisition expenses.
The prediction-market push also comes as Flutter faces weaker US performance. Second-quarter US revenue fell 6%, sportsbook revenue declined 15%, and US adjusted EBITDA dropped 70% to $119 million.
Flutter could go bust. It’s certainly ripe for sale
Not only has the company sold itself to highly unpopular affordability checks
Conducting invasive Financial data gathering with questionable security for customers privacy -agreements that allow the company to share your data…
— Geoff Banks (@geoffbanksbet) August 5, 2026
Flutter reported a companywide net loss of $296 million and reduced its full-year US guidance.
Despite those pressures, Flutter considers prediction markets an incremental growth channel, particularly in states where regulated sports betting remains unavailable. The strategy will soon be overseen by new leadership: Jackson will step down at the end of September, with Dan Taylor becoming CEO on Oct. 1.
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