Underdog Launches Prediction Markets in the US with Crypto.com : PMPMedia.io

By Arijit Roul - 4 Sep, 2025 More about the author

People in the US can now make bets on sports contracts in a way that follows federal rules.

Key Points

Plans for a new prediction market launch in the US come from Underdog and Crypto.com.
This betting type on sports matches brings some debate, as this vertical is very new.

Sports event contracts will be released in the US by Underdog and Crypto.com using a prediction market setup. Jeremy Levine, who is Underdog’s Founder and CEO, shared his views. “Prediction markets are one of the most exciting developments we’ve seen in a long time.” He continued, “Prediction markets are still developing, but one thing is obvious – they will center on sports, and Underdog leads in sports.”

Focus on Sports

FanDuel has made a pretty similar move, but that brand is looking at all kinds of prediction markets, while Underdog only starts with sports event contracts. Some members of the industry talk about the challenges, noting that many see a connection between sports event contracts and classic sports betting. So far, Underdog holds several licenses across the US for its sportsbook and fantasy sports products, though its regulation in other regions is less clear.

Partnership with Crypto.com

Using these sports event contracts, Underdog allows people to “trade their opinions on sports event contracts in leagues like NFL, college football, NBA, MLB, and more.” Crypto.com’s partner here is a CFTC-registered exchange and clearinghouse, linked directly to Crypto.com. Travis McGhee, Managing Director and Global Head of Capital Markets at Crypto.com, explained: “We are thrilled to partner with Underdog so customers everywhere can enjoy sports trading nationwide with Underdog tools inside just one app.” He added, “We were the first in sports event contracts, and this technology partnership with Underdog lets more people use CDNA’s new solutions.”