17 OctRegulation
Underdog seeks injunction against Tennessee enforcement of event-contract wagering laws
The injunction request contests Tennessee’s application of wagering laws to Underdog’s event-contract exchange.
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Deals and partners
- Acquired by IG Group 2026-07-31 · entry
- Acquired by IG Group 2026-10-14 · entry
- Acquired Aristotle Exchange 2026-10-15 · entry
- Partner: Crypto.com 2026-09-04 · entry
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Timeline
Newest first, grouped by month.
October 2026
16 OctRegulation
Underdog sues Tennessee over event contract enforcement
The lawsuit challenges Tennessee’s ability to apply state wagering laws to Underdog’s event contract platform.
15 OctRegulation
Underdog sues Tennessee officials over sports contract restrictions
The dispute puts Underdog's sports event contracts and fantasy licence in Tennessee at risk.
15 OctRegulation
Underdog sues Tennessee regulators to block prediction market enforcement action
The suit contests state authority over Underdog’s prediction market and follows a ruling against Kalshi.
14 OctLicences & markets
IG Group seeks UK sports betting licence
IG Group’s sports betting licence application follows its acquisition of US prediction market Underdog.
7 OctDeals & M&A
Underdog doubles Q3 revenue as IG cuts 2026 outlook
Investors face doubled Underdog Q3 revenue alongside IG’s lowered 2026 outlook ahead of deal completion.
September 2026
11 SepEnforcement & compliance
Connecticut issues nine cease-and-desist orders against prediction market operators
Prediction market operators face Connecticut cease-and-desist orders over alleged breaches of state gaming laws involving sports event contracts.
10 SepRegulation
Underdog sues five US states over prediction market restrictions
Underdog seeks to prevent regulators in five states from banning its prediction markets after surrendering seven states’ fantasy sports licences.
9 SepRegulation
Underdog sues five US states to protect sports prediction markets
Underdog seeks injunctions protecting its sports prediction markets after surrendering DFS licences in seven states during its shift towards prediction markets.
8 SepDeals & M&A
Underdog ends fantasy sports drafts in seven states for prediction markets
Underdog is discontinuing fantasy sports drafts in seven states for prediction markets amid disputes over their legality.
7 SepLicences & markets
Underdog relinquishes fantasy sports licences in seven states to retain prediction markets
Underdog is surrendering fantasy licences in seven states after regulators deemed its prediction platform incompatible with state-licensed fantasy operations.
4 SepDeals & M&A
Prediction markets target sportsbook customers as NFL season approaches
FanDuel and DraftKings face competition from Kalshi and Polymarket for sports betting customers as the NFL season approaches.
3 SepDeals & M&A
Novig and Underdog grow prediction market business through combos
Parlay-equivalent combos are driving growth in Novig’s and Underdog’s prediction market businesses.
2 SepDeals & M&A
Novig and Underdog expand prediction market parlays in USA
Novig and Underdog are expanding multi-leg offerings as combinations become an increasing source of sports prediction market activity.
August 2026
21 AugRegulation
Trump backs US prediction markets as states challenge sports contracts
State regulators argue sports contracts require gambling licences, challenging platforms operating under CFTC oversight with substantial sports trading activity.
3 AugDeals & M&A
IG’s planned Underdog purchase targets US exchange infrastructure
The planned transaction would bring regulated exchange and clearing capabilities into IG’s prediction-market expansion.
3 AugDeals & M&A
IG Group chief executive acknowledges prediction-market regulatory uncertainty
The comments identify regulatory uncertainty as a consideration in IG Group’s Underdog transaction.
July 2026
31 JulDeals & M&A
IG Group acquires Underdog for $1.3bn
The acquisition adds Underdog’s gaming and prediction market business to IG Group.
31 JulDeals & M&A
IG Group agrees $1.1bn acquisition of Underdog
The proposed purchase would give IG Group an entry into US prediction markets.
30 JulDeals & M&A
IG Group agrees Underdog acquisition worth up to $1.3bn
The proposed acquisition would expand IG Group’s presence in prediction markets.
30 JulDeals & M&A
IG Group agrees to buy Underdog for up to $1.3bn
The proposed purchase would give IG Group an established US prediction-markets business.
20 JulLicences & markets
Underdog launches its own prediction market exchange
The launch gives Underdog direct ownership of a prediction market exchange.
20 JulDeals & M&A
Underdog launches its own prediction-market exchange
Underdog can operate prediction markets through its own exchange infrastructure.
18 JulLicences & markets
Underdog launches wholly owned prediction-market exchange
Owning the exchange lets Underdog retain greater control over its event-contract business.
16 JulPeople moves
Kalshi appoints former Underdog executive Dillon Borgida
Kalshi adds an executive with experience at Underdog.
Connected to
Relationships extracted from our entries: partners, suppliers, investors, licensing and markets.
Timeline
Key developments by month.
- Oct 2026
- Regulation Underdog seeks injunction against Tennessee enforcement of event-contract wagering laws
- Regulation Underdog sues Tennessee over event contract enforcement
- Regulation Underdog sues Tennessee officials over sports contract restrictions
- Regulation Underdog sues Tennessee regulators to block prediction market enforcement action
- Licences & markets IG Group seeks UK sports betting licence
- Deals & M&A Underdog doubles Q3 revenue as IG cuts 2026 outlook
- Sep 2026
- Enforcement & compliance Connecticut issues nine cease-and-desist orders against prediction market operators
- Regulation Underdog sues five US states over prediction market restrictions
- Regulation Underdog sues five US states to protect sports prediction markets
- Deals & M&A Underdog ends fantasy sports drafts in seven states for prediction markets
- Licences & markets Underdog relinquishes fantasy sports licences in seven states to retain prediction markets
- Deals & M&A Prediction markets target sportsbook customers as NFL season approaches
- Aug 2026
- Jul 2026
- Deals & M&A IG Group acquires Underdog for $1.3bn
- Deals & M&A IG Group agrees $1.1bn acquisition of Underdog
- Deals & M&A IG Group agrees Underdog acquisition worth up to $1.3bn
- Deals & M&A IG Group agrees to buy Underdog for up to $1.3bn
- Licences & markets Underdog launches its own prediction market exchange
- Deals & M&A Underdog launches its own prediction-market exchange
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