Crypto.com Derivatives North America (CDNA), a licensed trading exchange, has joined hands with Underdog, a fast-growing fantasy sports and gaming company. Together, they aim to bring a new and legal way for fans across 16 U.S. states to take part in sports prediction and betting The Underdog Sports Prediction Market As announced , this initiative makes Underdog the first sports gaming operator to offer a prediction market that works under federal rules. The goal is to give millions of fans a legal way to take part in their favorite games through the Underdog app. Through the app, fans will be able to trade on the outcomes of games from major leagues such as football, basketball, baseball, and college sports. The prices will change in real time, allowing users to adjust their choices as the game unfolds. This system works more like a market than a traditional bet. The odds are shaped by supply and demand, not by a bookmaker. Fans can enter at any time, react to key moments, and share their views through live trading. Crypto.com Exploring New Market Underdog already has a strong base of users who enjoy fantasy sports, while Crypto.com brings the tools and regulations needed for federal compliance. Together, they are creating a product that mixes sports, finance, and blockchain technology in one place. For fans in states like California and Texas, this could be their first legal way to take part in live sports outcomes. Besides being a licensed trading platform, Crypto.com is also well-connected to the sports world. The company has grown its presence through big sponsorships and partnerships. In 2024, it signed a multi-year deal with the UEFA Champions League , becoming the official sponsor of Europe’s top club football tournament. Sports Prediction Markets Grow Amid Regulatory Questions Sports prediction markets are not entirely new, but they are gaining momentum. Other platforms like Polymarket, Kalshi, and Robinhood are also looking into prediction markets, but most of them don’t focus only on sports. What makes Underdog different is that it is building its brand around sports first. By linking its fantasy sports community with a real-time trading system, Underdog is aiming to expand faster and bring more attention to this new kind of market. Despite its potential, rules around sport prediction markets are still not fully settled . The Commodity Futures Trading Commission (CFTC) and U.S. courts are still debating whether these markets count as gambling or as financial products. Earlier this year, a court pushed back against attempts to block similar platforms, showing how complex the issue is. By working with a federally registered exchange, Underdog and Crypto.com are positioning themselves ahead of these disputes. Their approach could set a model for how other firms enter the space. The post Crypto.com Co-Launches Compliant Sports Prediction Market appeared first on TheCoinrise.com .
