CME Group and Fanduel partner for event platform

Derivatives Marketplace CME Group and Gaming Company Fanduel has announced a new partnership, spawning a platform for an event platform.

Based on the origin of the CME Group in Fanduel’s financial products and the gambling space, the platform will offer fully funded contracts based on a certain risk events. Customers will be able to bet on different markets of simple « yes » or « no » bets, starting with only $ 1.

Products are expected to start later this year, including market indicators such as S&P 500 and NASDAQ-100, oil and gas prices, gold, cryptocurrencies and other key economic indicators such as GDP and CPI. There is also a promise for more markets to be determined in the coming months, coming after the start.

« Individual investors are increasingly complicated and constantly pursuing new financial capabilities, » said Terry Duffy, chairman of CME Group and CEO. « To respond to this search, we have created this innovative partnership that will manage FCM that is not clean.

Fanduel is looking for partnerships in the whole game space

To combine the customer platform, the two companies will create a new joint venture together, managing a Futures Futures Merchant (FCM), which will facilitate access to these events based on Fanduel, which was recently sold to the Gaming Giant Flutter.

« Partnership with CME Group will unlock our ability to bring even more new and engaging products to Fanduel’s fast -growing customer base, » says Amy How, CEO of Fanduel Group. « We believe that there is potentially a wide audience on commercial markets based on events and we want to provide a platform that allows our customers to participate in this activity.

« We are glad to partner with CME Group to design new and engaging products, combining innovations with the best regulatory compliance and users’ protection in the class. »

This would not be the only partnership that Fanduel is worn by news spinning for a potential partnership with the Kalshi forecasts market.

Recommended Image: CME Group/Fanduel

Post CME Group and Fanduel Partner for the event contract platform first appeared on Readwrite.

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