Underdog, a rapidly expanding U.
S. sports company, and Crypto.com | Derivatives North America (CDNA), an affiliate of Crypto.com and a CFTC-registered exchange and clearinghouse, have announced a partnership to make sports event contracts accessible to customers through the Underdog app. These CDNA sports event contracts will be powered by Underdog’s proprietary technology, offering American sports fans a secure and federally compliant method to engage with prediction markets on their favorite sports outcomes.
This collaboration marks a significant development in the U.
S. sports gaming landscape, integrating prediction markets for major sports leagues such as the NFL, college football, NBA, and MLB. Customers will be able to trade opinions on sports event contracts, with prices updating in real-time to allow for immediate reactions to ongoing events.
Jeremy Levine, founder and CEO of Underdog, commented on the market’s trajectory, stating, “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.”Travis McGhee, Managing Director, Global Head of Capital Markets at Crypto.com, expressed enthusiasm for the partnership. “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,” McGhee said. He added, “We were the first to offer sports events contracts, and our technology partnership with Underdog will provide more access to CDNA’s innovative offerings.”Underdog, founded in 2020, has established itself as a leading sports gaming company built on its own technology. It is now positioned to offer fantasy sports, licensed sports betting, and prediction markets within a single, integrated application. The company holds gaming licenses across multiple U.
S. states and is recognized for its industry-leading responsible gaming operations and robust customer protections.
CDNA operates as a designated contract market and derivatives clearing organization, registered with the Commodity Futures Trading Commission (CFTC). It provides trading for prediction market contracts, alongside economic and cryptocurrency event contracts. Crypto.com, founded in 2016, is a global leader in regulatory compliance and security within the cryptocurrency space.
