In a significant legal development, a New York federal judge has dismissed a class-action lawsuit against Fanatics, a company that has rapidly ascended to prominence in the sports memorabilia and betting industries. The lawsuit accused Fanatics of conspiring with Major League Baseball (MLB) and other leagues to create a monopoly on trading card licenses, a claim that has now been deemed baseless by the court.
The lawsuit’s dismissal came as a relief for Fanatics, which acquired Topps in early 2022. Topps has held an exclusive MLB license since 2009, and 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, ruling that the plaintiffs did not even have standing to sue.
While the lawsuit was dismissed without prejudice, allowing plaintiffs to refile within three weeks, the ruling underscores Fanatics’ growing influence in the trading card market. The company has been aggressively expanding its portfolio, and the acquisition of Topps has positioned it as a formidable player in the industry. As the legal landscape evolves, Fanatics continues to innovate and attract customers through various promotional strategies.
The numbers
In addition to its trading card operations, Fanatics is making waves in the sports betting arena. The company is currently offering a sportsbook promo code, NYPOST, which allows new users to bet $5 and receive $200 in FanCash. This promotion is available in multiple states, including Arizona, Colorado, and Connecticut, and is particularly timely as March Madness approaches.
Fanatics is also running a welcome promo for March Madness, enabling users to earn up to $1,000 in FanCash over ten days. This promotion allows for a maximum daily bet match of $100 in FanCash, which can be used for betting or purchasing merchandise, although it cannot be withdrawn. The promotional FanCash expires seven days from issuance, adding an element of urgency for users to engage with the platform.
As the Elite Eight games are set for March 28 and 29, 2026, Fanatics is capitalizing on the excitement surrounding the tournament to drive engagement. With a combined total of 52 points won by Arizona in their first two March Madness games, the stakes are high, and Fanatics is poised to benefit from the increased interest in sports betting during this period.
As Fanatics navigates the complexities of the trading card market and expands its sportsbook offerings, observers are keenly watching how the company will respond to any potential refiled lawsuits and how it will continue to innovate in a competitive landscape. Details remain unconfirmed regarding the next steps from the plaintiffs, but Fanatics’ current trajectory suggests a strong commitment to maintaining its market dominance.
