Underdog Launches Its Own Prediction Markets Platform
United States.- 21 July 2026 www.zonadeazar.com Underdog has launched its own federally regulated prediction-market platform in the United States. The exchange is wholly owned and operated by the company, licensed by the Commodity Futures Trading Commission (CFTC) and integrated into Underdog’s existing application.
News Details
The new infrastructure enables customers to trade contracts linked to sporting, cultural and other events without leaving the Underdog ecosystem.
Until now, the company had provided access to prediction markets as an intermediary for external exchanges, including Crypto.com and Kalshi. Operating its own platform gives Underdog greater direct control over the infrastructure, customer experience and product development.
The launch follows Underdog’s March 2026 acquisition of Aristotle Exchange DCM and Aristotle Exchange DCO. The entities were registered with the CFTC as a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), respectively.
Underdog is also registered as a Futures Commission Merchant (FCM). According to the company, this combination makes it the first US sports business to hold the complete licensing structure required to operate its own prediction-market exchange.
Industry Context
Underdog began providing access to sports event contracts within its app in September 2025, initially through partnerships with third-party exchanges.
The internal launch represents a transition from distribution to a vertically integrated structure combining the customer relationship, brokerage services, contract marketplace and clearing operations.
The strategy also reflects growing interest among US sports companies in federally regulated prediction markets as an alternative or complement to state-licensed sports betting.
Statements
Underdog CEO and co-founder Jeremy Levine said:
“We started this company with a clear belief — there is so much more to be built for sports fans in America.”
Discussing the new platform, he added:
“Now with our own exchange, we’re going to unlock so much for more sports fans.”
Levine also highlighted the company’s sporting focus:
“Prediction markets are largely about sports, and Underdog is the best at sports.”
Next Steps or Impact
Underdog intends to expand the range of sports and other event contracts available through its own platform. Direct control of the exchange will allow the company to accelerate product launches, reduce its reliance on external providers and retain a greater share of the value generated by customer activity.
The move also positions Underdog as a direct competitor within the expanding US event-contract market.
Edited by: @_fonta
