The numbers
A New York federal judge has dismissed a class-action lawsuit against Fanatics, which had accused the company of market manipulation in the trading card industry. The lawsuit claimed that Fanatics conspired with Major League Baseball (MLB) and other leagues to create a monopoly on trading card licenses, a claim that the court found to be without merit.
The lawsuit’s dismissal comes in the wake of Fanatics’ acquisition of Topps in early 2022, which had held an exclusive MLB license since 2009. At the time of the lawsuit, Panini held exclusive licenses for the NBA and NFL. A spokesperson for Fanatics stated, “We said from the start that this was a baseless and fundamentally flawed lawsuit, since Fanatics was being accused of raising prices on cards we didn’t even produce.” The court agreed with this assessment, ruling that the plaintiffs did not have standing to sue.
While the lawsuit was dismissed without prejudice, allowing plaintiffs to refile within three weeks, the ruling marks a significant moment for Fanatics as it continues to expand its influence in the sports trading card market. The plaintiffs had argued that since 2022, the prices of Fanatics’ MLB trading cards had been higher than those of comparable cards due to alleged anticompetitive conduct. However, the court found these claims unsubstantiated.
In addition to its legal challenges, Fanatics is actively promoting its sportsbook offerings. The company is currently running a promotion for March Madness, allowing new users to bet $5 and receive $200 in FanCash, which can be used for betting or purchasing merchandise. However, FanCash cannot be withdrawn and expires seven days from issuance. The promotion is available in multiple states, including Arizona, Colorado, and Connecticut.
As part of the March Madness promo, users can earn up to $1,000 in FanCash over ten days, with a maximum daily bet match of $100. The Elite Eight games are set for March 28 and 29, 2026, and Fanatics is looking to capitalize on the excitement surrounding the tournament. A spokesperson noted, “Fanatics will match your stake every day for ten days,” highlighting the company’s aggressive marketing strategy.
Topps, which Fanatics acquired, is also set to take over the NFL license on April 1, further solidifying Fanatics’ position in the trading card market. This move comes as the company continues to navigate the complexities of the sports licensing landscape, which has seen significant changes in recent years.
As the legal landscape evolves, observers will be watching closely to see if the plaintiffs choose to refile their lawsuit and how Fanatics will continue to adapt its business strategy in light of ongoing challenges. Details remain unconfirmed regarding the next steps in the lawsuit process.
