Underdog and Crypto.com | Derivatives North America Announce First Prediction Market Exchange Offered on Major Sports Gaming Operator App
Underdog, the fastest-growing sports company in the US, and Crypto.com | Derivatives North America (CDNA), a CFTC-registered exchange and clearinghouse and an affiliate of Crypto.com, announced that sports event contracts will be accessible to customers through Underdog. CDNA sports event contracts will be powered by Underdog’s technology. This partnership offers American sports fans a secure, federally compliant way to access CDNA sports event contracts and make predictions on the outcomes of their favorite sports events, all within the Underdog app.
“Prediction markets are one of the most exciting developments we’ve seen in a long time. While still new and evolving, one thing is clear – the future of prediction markets is going to be about sports – and no one does sports better than Underdog,” said Underdog founder and CEO, Jeremy Levine.
With this launch, customers can express and trade their opinions on sports events contracts across all major sports leagues, including NFL, college football, NBA, MLB, and more. Prices update in real-time, allowing customers to react instantly and express their opinions on what’s going to happen on the field or court.
“We are thrilled to partner with Underdog to enhance the sports experience for customers nationwide with the ability to now trade using Underdog’s technology – all in one app. We were the first to offer sports events contracts, and our technology partnership with Underdog will provide more access to CDNA’s innovative offerings,” said Travis McGhee, Managing Director, Global Head of Capital Markets at Crypto.com.
As the only company built on its own proprietary technology across fantasy sports and sports betting regulatory frameworks, Underdog is now the only company offering fantasy sports, sportsbook, and prediction markets in one seamless app.
Underdog has gaming licenses in states across the country and has built industry-leading responsible gaming operations, with sophisticated customer protections ingrained into every facet of its platform. Underdog will bring that same level of customer protection and care to prediction market offerings.
