Crypto.com and Underdog Launch Sports Prediction Markets
Crypto platform Crypto.com and operator Underdog announced a partnership to introduce trading of sports contracts through the Underdog app.
Partnership Details
The contracts are offered by Crypto.com Derivatives North America (CDNA), registered with the CFTC.
Underdog provides the technical infrastructure, giving users a safe and legal way to predict outcomes of sporting events within a single app.
Key Features:
- Coverage of major sports leagues: NFL, NBA, MLB and college football.
- Contract prices update in real-time.
- The app combines three areas: fantasy sports, betting, and prediction markets.
Company Statements
Underdog CEO Jeremy Levin highlighted that “prediction markets are one of the most exciting innovations in years” and emphasized that the future of such services is closely tied to sports.
Travis McGee, Managing Director and Head of Capital Markets at Crypto.com, added:
We were the first to offer sports event contracts, and our partnership with Underdog will expand access to CDNA’s innovative products.
User Benefits
The new product launch allows fans to express their opinions and trade on sports outcomes. With licenses in multiple U.S. states, Underdog also implements advanced customer protection and responsible gaming practices.
What Users Get:
| Feature | Description |
|---|---|
| Fantasy Sports | Participate in team-building games and predictions. |
| Betting | Licensed sports betting across multiple states. |
| Prediction Markets | Trade contracts on match outcomes with real-time price updates. |
About the Companies
Crypto.com
Founded in 2016, Crypto.com has millions of users worldwide and focuses heavily on regulatory compliance and security. CDNA is registered with the CFTC and offers contracts on sports events, as well as economic and cryptocurrency markets.
Underdog
Founded in 2020, Underdog quickly became one of the largest sports gaming operators in the U.S. The company develops fantasy sports, licensed betting, and media projects. Underdog’s mission is to make sports more engaging for fans.