CME Group and FanDuel to Launch Prediction Market App 'FanDuel Predicts'

According to a joint announcement, the platform will debut in December, offering event contracts tied to stocks, commodities, crypto assets, and economic data.

Summary

CME Group and FanDuel announced on November 12 that they will jointly launch a new prediction market platform called 'FanDuel Predicts' in December. The app will provide event contracts covering stock indices, commodities, cryptocurrencies, and economic indicators. According to the official statement, the partnership aims to expand participation in financial markets by allowing users to forecast various market outcomes in an accessible and regulated environment.

Terms & Concepts
  • Prediction Market: A marketplace where participants bet on outcomes of future events, with prices reflecting collective forecasts.
  • Event Contract: A type of derivative allowing users to trade based on the outcome of specific events, often used in prediction markets.
  • CME Group: A major U.S. derivatives marketplace providing trading in various asset classes, including futures and options.