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September 02.2025
2 Minutes Read

Crypto.com and Underdog Launch Sports Prediction Markets, Undercutting Legal Barriers

Crypto.com bets big on sports prediction markets

Crypto.com Teams Up with Underdog to Innovate Sports Prediction Markets

The world of sports betting has just gained an exciting new dimension as Crypto.com partners with fantasy sports app Underdog to introduce a novel sports prediction market, now accessible in 16 states. This partnership aims to offer fans a unique way to engage with their favorite sports while overcoming legal hurdles present in states such as California and Texas.

Breaking Down the Legal Barriers

Despite the immense popularity of sports betting, several states have yet to establish a clear legal framework for online gambling. California and Texas, the two most populous states, alongside Florida, have specific restrictions making traditional sports betting difficult. However, through the Crypto.com and Underdog collaboration, users can participate in prediction markets that operate in a legal grey area.

The Future of Sports Prediction Markets

Prediction markets enable fans to buy and sell outcomes of sporting events, akin to betting on political events or cryptocurrency trends. Unlike traditional betting that relies on fixed odds set by bookmakers, the value in prediction markets shifts based on supply and demand. Jeremy Levine, the founder of Underdog, emphasizes the potential future growth in this sector, indicating a shift towards mainstream acceptance of these markets.

Current Market Landscape

The space is becoming increasingly competitive, with existing platforms like Polymarket and Kalshi offering similar services. In a landscape where traditional betting is on the rise—$150 billion wagered last year—the demand for new forms of engagement is unmistakable. As more users gravitate toward digital gambling, the prediction market offered by Crypto.com and Underdog may just be the innovative approach needed to capture a broader audience.

Looking Ahead

Crypto.com and Underdog’s prediction markets will initially focus on popular leagues such as the NFL, NBA, and Major League Baseball, allowing users to stake claims on outcomes. This innovative approach not only gives fans a stake in their teams but may also reshape the landscape of sports entertainment altogether.

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