Fanatics is partnering with Crypto.com to enter the prediction markets space, with a platform expected to launch in the coming weeks. Details on its features remain unclear, and regulatory challenges could affect its availability across the U.S.

Michael Selig, the new chair of the CFTC, has introduced an innovation committee to explore regulation of prediction markets and digital assets. This move coincides with ongoing Congressional discussions about expanding the agency's authority in the crypto space, amid rising concerns over insider trading in prediction markets.

Polymarket, a crypto-based prediction markets platform, has received approval from the CFTC to operate in the United States. The ruling follows a no-action letter regarding swap data reporting and recordkeeping regulations, paving the way for Polymarket's entry after a prior federal investigation was dropped.

Polymarket is set to raise $200 million in a new funding round that will value the platform at $1 billion, led by Peter Thiel’s Founders Fund. Despite facing regulatory challenges that resulted in banning US customers, Polymarket has maintained significant activity, particularly during the 2024 US presidential election, and is expanding its offerings through a partnership with Elon Musk's social network, X. The platform's cumulative betting volume is approaching $14.8 billion, with a notable decrease in user activity recently.