Underdog Sports launches prediction market on CFTC-regulated exchange
By Dan Whitaker, Casino News Editor
Underdog Sports has completed its pivot to the prediction market sector by launching a prediction market on a CFTC-regulated exchange, calling the platform a "federally licensed prediction market exchange." The fantasy sports operator made the move months after laying off 20% of its staff and snapping up a derivatives clearing platform as part of the company’s transition away from its previous focus.
The firm announced the launch in a press release. Because the exchange is regulated by the Commodity Futures Trading Commission, the development places Underdog’s new offering squarely under US federal oversight and marks a clear shift from fantasy sports toward regulated prediction products.
Player angle: Prediction markets are moving into federally regulated venues, a shift that could change where players look for regulated prediction products. Check our fast payout casinos guide before putting money anywhere.
Reported by CasinoBeats.