London-based broker Plus500 is moving into prediction markets, becoming the clearing partner for a new event contracts platform launched by CME Group and FanDuel. The deal, announced Monday, marks a strategic shift for the firm as it expands beyond its core CFD business.
Under the agreement, Plus500 will provide execution and clearing services for FanDuel’s prediction markets, where users trade on the outcome of real-world events. CEO David Zruia said the partnership “reflects our capabilities as an accredited, trusted market infrastructure provider.”
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The move comes amid a surge in demand for event-based trading. Rival platform Robinhood recently reported that over 9 billion such contracts have traded on its service. Mainstream financial firms are now racing to capture a share of the market, which was initially popularized by crypto platforms.
Plus500’s push follows another recent infrastructure deal with trading firm Topstep, signaling a broader strategy to become a back-end provider for high-growth retail trading sectors. The company reported quarterly revenue of $182.7 million, with about 15% now coming from its expanding non-OTC business.
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