Sports merchandise giant Fanatics is entering the prediction markets space through a partnership with Crypto.com, CEO Michael Rubin revealed in an interview with CNBC on Thursday.

The new platform is expected to launch “in the next couple weeks,” though Rubin did not provide additional details about its structure or operations.

Prediction markets allow users to place bets on real-world outcomes, including elections, sports events, entertainment, and economic indicators. While Rubin did not specify which sectors the platform will target, Fanatics’ strong ties to sports merchandise and sports betting suggest an initial focus on that area.

It remains unclear whether the platform will rely on cryptocurrency rails or where it will be available, as prediction markets face varying legal status across the U.S. Some states permit them, while others prohibit them entirely, making regulatory approval a critical factor in the product’s rollout.

Rubin acknowledged this challenge, noting that Fanatics is currently licensed in 23 states but sees substantial demand potential in the remaining 27 states.

If successful, Fanatics’ foray into prediction markets could put it in competition with platforms like Kalshi and Polymarket, which have gained significant traction over the past year.