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FanDuel is launching a brand-new way to trade on real-world outcomes this December, but don’t expect sports contracts in Michigan. The company has announced the rollout of FanDuel Predicts, a standalone mobile app that offers event contract trading on a range of topics, from economic indicators to financial benchmarks.
Developed in partnership with CME Group, the global leader in derivatives markets, the new platform will enable users to buy and sell “yes or no” contracts tied to specific outcomes, such as whether the S&P 500 will close above a certain level or if inflation will rise. But here’s the catch: sports contracts will only be available in states that have not yet legalized online sports betting.
Since Michigan is home to the well-established MI online sports betting market, residents will not be able to access sports-related event contracts through the new app.
What will FanDuel Predicts offer in Michigan?
Although sports markets are off the table, FanDuel Predicts could still appeal to Michigan users interested in simplified access to financial markets. The app’s event contracts range in price from $0.01 to $0.99 and cover:
- Stock market benchmarks like the S&P 500 and Nasdaq-100
- Commodities such as gold, oil, and natural gas
- Economic indicators like GDP, CPI, and unemployment
- Cryptocurrencies
Users must complete full identity verification (including Social Security number, address, valid ID, and banking info) and will have access to FanDuel’s suite of responsible trading tools, including deposit limits, self-exclusion, and educational content.
FanDuel has stated that sports event contracts will automatically be removed from the app in any state that legalizes online sports betting after launch, reinforcing the company’s intent to keep FanDuel Predicts outside of traditional gambling regulation.
Will FanDuel Predicts Take Off in Michigan?
With Michigan already offering regulated MI online casinos and sports betting, the lack of sports prediction markets on FanDuel Predicts may limit its appeal for typical bettors. But for users interested in trading on economic trends or financial events, this app could provide a new way to engage with the markets without needing a traditional brokerage account.
Whether FanDuel Predicts gains traction in Michigan remains to be seen, but its launch marks a significant expansion into event trading for one of the biggest names in online gaming.
