FanDuel has filed to create a new futures commission merchant (FCM) to offer prediction market contracts from a registered exchange. Unlike its existing FCM FanDuel Predicts, the new entity appears to have no CME Group involvement.
New Ventures III, owned by FanDuel, filed with the National Futures Association (NFA) on April 9. The filing was first observed by PredictionMarketPulse.
FanDuel already owns a registered FCM, FanDuel Predicts, but it is tied to one exchange: CME.
FanDuel Predicts is 49% owned by the betting giant and 51% owned by CME. It covers contracts offered on the FanDuel Predicts app and traded on CME’s exchange.
