Overview
- Underdog is now hosting sports prediction markets supplied by Crypto.com Derivatives North America, a CFTC-registered exchange, inside its consumer app.
- The rollout covers 16 states, concentrating on markets where traditional sportsbooks remain illegal, according to the companies.
- Initial markets let users trade outcomes across major leagues including the NFL, college football, the NBA, and MLB, with pricing driven by market activity rather than a bookmaker.
- Underdog is the first major U.S. gaming platform to layer regulated futures-style event contracts onto its app, and the partnership is non-exclusive.
- Regulatory questions persist as the CFTC and courts assess jurisdiction and several states push back on rivals like Kalshi with cease-and-desist orders, while leagues voice integrity concerns.