Morning Minute: FanDuel Enters Prediction Markets

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.

GM!

Today’s top news:

Crypto majors dip then rebound on US Gov’t reopening news; BTC at $103,200
XRP leads majors ahead of its ETF launch this morning
FanDuel partners with CME to launch prediction market app ‘FanDuel Predicts’
New ZEC DAT Leap Therapeutics shares jump 400% on Thursday
Lido proposes enshrined buybacks along with other changes

🎯 FanDuel Enters Prediction Markets

Sportsbooks are piling into prediction markets.

But are they here to stay? Or is this a temporary workaround?

📌 What Happened

FanDuel, in partnership with CME Group, announced the launch of a new prediction-markets platform set to go live in December 2025.

The new standalone mobile app will be named ‘Fanduel Predicts’ and will allow users to trade event-based contracts, initially covering sports, economic indicators, crypto and more.

This major announcement comes just a few weeks after DraftKings announced its own entry into prediction markets, putting both major U.S. sport-betting brands in the prediction-market race.

🗣️ What They’re Saying

“We can’t wait to bring FanDuel’s proven approach to product innovation into this dynamic sector,” said Amy Howe, CEO at FanDuel. “Our partnership with CME Group allows us to leverage their deep market expertise built over decades while delivering the seamless, accessible and trusted experience our customers expect.”

“Our new event contracts on benchmarks, economic indicators and now sports will appeal to a new generation of potential participants who are not active in these markets today,” said CME Group Chairman & Chief Executive Officer Terry Duffy. “This launch will dramatically expand our distribution and reach, connecting directly with FanDuel’s millions of registered U.S. users.”

🧠 Why It Matters

So DraftKings and now FanDuel are jumping into the prediction market space.

But – are they here to stay?

A notable aspect of FanDuel’s announcement was somewhat buried in the 2nd paragraph –

“As new states legalize online sports betting, FanDuel will cease offering sports event contracts in those states.”

That makes this move feel more like a temporary bridge solution than a permanent one.

An obvious question has arisen this year with Kalshi’s rise in the sports betting rankings – why are prediction markets allowed to offer sports markets in states that DraftKings and FanDuel are banned in (due to sports betting restrictions)?

Well, instead of waiting months or years for that question to be answered, FanDuel and DraftKings are simply going on the offensive and launching their own versions.

Now the next question is – will they stick around once the states issue is resolved? Will they lean into the new “everything app” trend and offer politics, crypto, entertainment and economic markets alongside their bread and butter sports?

Or will they simply revert to sports?

Time will tell. But as for now, the prediction market space has become more crowded, and the pace of new entrants is accelerating…

🌎 Macro Crypto and Memes

A few Crypto and Web3 headlines that caught my eye:

In Corporate Treasuries / ETFs

In Memes / Onchain Movers

Memecoin leaders are mixed; DOGE -1%, Shiba +1%, PEPE +1%, PENGU -1%, BONK -1%, TRUMP -6%, SPX +3%, and FARTCOIN +1%
Canary filed for a MOG ETF
OOB (+360%), BOLD (+240%), ORE (+50%) and WOJAK (+60%) led onchain Solana movers

💰 Token, Airdrop & Protocol Tracker

Here’s a rundown of major token, protocol and airdrop news from the day:

🚚 What is happening in NFTs?

Here is the list of other notable headlines from the day in NFTs:

NFT leaders were mostly red; Punks even at 34.9 ETH, Pudgy -3% at 5.9, BAYC -1% at 6.49 ETH; Hypurr’s -10% at 740 HYPE
Ringers (+75%) were a notable mover
A 3D Hoodie Punk sold for $628,800 on Gondi, over 5x the current Punk floor
Yuga’s The Otherside debuted yesterday with their new social hub The Nexus opening up for players