Underdog, the fast-growing U.S. sports-gaming operator, and Crypto.com | Derivatives North America (CDNA) today announced a partnership that brings CDNA’s prediction market contracts directly into the Underdog app. It is the first time a major sports gaming operator will offer a federally regulated prediction market exchange inside its consumer-facing sports product.
The deal will let Underdog customers view, trade and take positions on sports event contracts across leagues, including the NFL, college football, NBA and MLB, with prices updating in real time so users can react instantly to what’s happening on the field or court. CDNA will power the contracts while Underdog supplies the front-end technology and customer experience.
“Prediction markets are one of the most exciting developments we’ve seen in a long time,” said Underdog founder and CEO, Jeremy Levine. “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.” The company says the integration makes it the only operator in the U.S. offering fantasy sports, sportsbook and prediction markets in a single, seamless app.
CDNA is an affiliate of Crypto.com that is registered with the U.S. Commodity Futures Trading Commission (CFTC) as a designated contract market and derivatives clearing organization. It has previously offered sports-event contracts and related products, and the firm framed the partnership as a way to broaden access to its regulated offerings through Underdog’s sizable user base.
“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,” said Travis McGhee, Managing Director, Global Head of Capital Markets at Crypto.com. “We were the first to offer sports events contracts, and our technology partnership with Underdog will provide more access to CDNA’s innovative offerings.”
Responsible Gaming Standards
Underdog emphasized that the new product will follow the same customer-protection and responsible-gaming standards that the company says are baked into its fantasy and sportsbook operations. The company holds gaming licenses in multiple states and stated it will bring its responsible-gaming controls to the prediction-market rollout.
Industry observers have been watching prediction markets closely as they expand into mainstream applications beyond elections and niche financial contracts. By pairing a CFTC-registered exchange with a popular sports app, the partners appear to be positioning prediction markets as a regulated, mass-market complement to fantasy sports and traditional sportsbooks. The move targets jurisdictions and players who want a federally compliant way to trade event outcomes inside an app they already use for sports gaming.
Underdog was founded in 2020 with the stated goal of “making sports more fun,” and the company has grown quickly by building its own proprietary technology stack for fantasy and betting products. Crypto.com, founded in 2016, described CDNA’s role as expanding the company’s regulated derivatives offerings, including prediction market and economic/crypto event contracts, into new consumer channels.
The new prediction-market feature will roll out inside the Underdog app; the companies say fans will be able to trade and express views on game outcomes without leaving the platform they already use for fantasy and licensed betting. For users, the pitch is straightforward: one app, more ways to engage with the games they follow.
