FanDuel is making its biggest prediction markets move in months, adding Crypto.com contracts to FanDuel Predicts as the company looks to expand beyond its original CME-powered offering.
The announcement gives FanDuel users access to additional sports and entertainment contracts while also expanding the platform's growing selection of combination-style products. On paper, it's a partnership announcement. In reality, it feels like a sign that FanDuel sees prediction markets becoming an increasingly important part of its future.
FanDuel Is No Longer Relying on Just One Provider
When FanDuel Predicts launched late last year, everything ran through CME Group. That made sense at the time. CME is one of the largest financial exchanges in the world and already has the infrastructure in place to support event contracts. Since then, however, the market has become much more competitive.
DraftKings, Fanatics, Underdog, and several other companies have expanded their offerings through Crypto.com's prediction market infrastructure. FanDuel has now joined that list, giving its users access to a wider range of contracts ahead of what could be a very busy summer driven by the World Cup and other major events. According to FanDuel, customers will start seeing Crypto.com-powered contracts appear on the platform this week.
Volume Matters More Than Ever
This move also comes at an interesting time. FanDuel hasn't released detailed trading figures for FanDuel Predicts, but publicly available data suggests the platform still has plenty of room to grow. CME has recently averaged around $4 million in daily contract volume across its ecosystem, though that figure includes activity across multiple platforms.
Meanwhile, some competitors have started putting up much larger numbers. DraftKings recently reported annualized volume of $ 3.1 billion in May, which works out to roughly $ 8.5 million per day. Kalshi remains on another level entirely, regularly generating hundreds of millions of dollars in daily volume. Nobody inside FanDuel is likely happy sitting behind those numbers, which makes expanding the product lineup a fairly logical next step.
More Choice for Users
One area where Crypto.com has gained traction is combination contracts. Several prediction market operators have rolled out products that allow users to bundle multiple event outcomes into a single position. Fanatics introduced a version earlier this year, while DraftKings followed with its own offering not long after.
FanDuel clearly wants to compete in that space as well. The company specifically highlighted the ability to offer more combination-based products through the partnership. From a user perspective, that means more flexibility and more ways to build positions around major sporting events and entertainment outcomes.
Crypto.com Chief Business Officer Joe Anzures said the partnership is designed to help deliver a larger-scale prediction market experience during some of the biggest events on the calendar.
The Trade Handle Prediction Markets Take
What stands out most here isn't that FanDuel signed another partner. It's that the company appears to be treating prediction markets like a business it intends to build rather than simply experiment with. A few months ago, FanDuel Predicts felt like an interesting side project. Adding Crypto.com contracts suggests the company wants to be more competitive in a space that's growing faster than many people expected.
Prediction markets are starting to look a lot like every other successful industry. Once users arrive, companies stop competing on access and start competing on product quality. More contracts, more flexibility, better user experiences, and stronger infrastructure become the focus. FanDuel's latest move appears to be part of that shift.