Two licensed doors opened onto rips this week. Neither one holds the card.

In brief

Barron's reported on 4 November 2026 that FanDuel is testing digital card rips through its Rewards Club, and Covers, Dimers and The Short Print carried the report the same day. A member selects a reward that takes them to Arena Club, the rip platform co-founded by Derek Jeter. The trial is limited to Rewards Club members. FanDuel declined to comment. Flutter's chief executive Dan Taylor told Barron's that the trials "have gone very well". Flutter's own third-quarter results release, published the same day, names prediction markets fourteen times and rips not once. Five days earlier, on 29 October, OG.com announced OG.com Rips, packs of NFL, NBA, MLB and Pokémon cards sold in six tiers, priced from $5 to $1,000 on its football page. OG.com's site describes the North American Derivatives Exchange as its CFTC-regulated exchange. Its release says Rips is not regulated by the CFTC and is offered by OGMUS to users aged 18 and over in the United States.

Neither company holds the card. Arena Club's terms, last updated 31 August 2026, call a Slab Pack a virtual pack representing physical graded cards, make the purchase a final sale, and generate an Arena Club Offer of its own estimate less a 10 percent fee, open for 24 hours from the reveal and paid as wallet credit. The cards sit in Arena Club's vault in Oregon, and the terms say Arena Club does not take ownership of them. OG.com's terms, dated 29 October 2026, say Phygitals is the merchant of the cards, holds them, answers for authentication and shipping, and sets the buyback in its sole discretion. Title passes at Phygitals' warehouse. A buyer has seven calendar days to ship or sell. A buyer who does nothing is deemed to have accepted the buyback then on offer. Proceeds leave only through a USD account at a separate provider, FDI, after its identity checks, and a buyer refused that account gets no refund. None of the pages we read says what FanDuel or OG.com earns when a customer buys a pack. On the wider economy, the Federal Reserve held its target range at 3.75 to 4 percent on 28 October 2026. The 10-year Treasury yield was 4.90 percent on 4 November, against 5.24 percent on 1 October, US Treasury data show. The Bureau of Economic Analysis reported on 29 October that consumer spending rose 0.5 percent in September in current dollars, with the PCE price index 3.6 percent above a year earlier.