Fanatics, led by CEO Michael Rubin, is set to launch a prediction market platform in collaboration with Crypto.com within the coming weeks. The new platform will initially focus on sports and entertainment events, capitalizing on Fanatics' extensive connections in the sports industry. Despite the promising market potential, the platform will navigate regulatory hurdles, as prediction markets are currently legal in only 23 U.S. states where Fanatics holds licenses. The venture is poised to compete with established services such as Kalshi and Polymarket. Rubin highlighted the significant demand in the regions where the platform can legally operate, suggesting a strong market opportunity despite the regulatory constraints.