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FanDuel lands FCM license without CME involvement as it weighs a prediction market approach with greater economic control, GambleRss reports
- FanDuel lands FCM license without CME involvement as it weighs a prediction market approach with greater economic control, GambleRss reports — FanDuel has landed a futures commission merchant license that does not involve CME, which owns 51 percent of FanDuel Predicts and takes 50 percent of its gross revenue while FanDuel handles marketing, promotion and technology costs. CME Chairman and CEO Terry Duffy said a FanDuel move of this kind would be contractually against what was originally stated with them, and the report notes an FCM designation is not the same as a designated contract market license. (GambleRss)
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