BlackRock said its investment in Underdog detracted from the 2025 relative performance of the BlackRock Technology and Private Equity Term Trust. In a filing, it attributed pressure on Underdog's valuation to regulatory challenges and increased scrutiny of its move into prediction markets.
The disclosure links regulatory scrutiny of Underdog's prediction-market strategy to the valuation of an investor's stake.
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DraftKings chief executive Jason Robins said he had become more receptive to cryptocurrency event contracts after seeing early positive signs, according to a report of his remarks at the NEXTPredict Summit. The report said DraftKings routes these contracts through Crypto.com and may be considering bringing the activity in-house; it also cited analyst estimates that timed digital-currency contract volumes rose 44-fold in the first seven months of 2026.
DraftKings chief executive and co-founder Jason Robins said at the NEXTPredict Summit in New York City last week that he had become more open to cryptocurrency event contracts after seeing early positive signs, according to a report of his remarks. The report said DraftKings routes these contracts through Crypto.com rather than its own DKeX exchange, and cited an analyst as saying the company may be examining bringing the activity in-house.
DraftKings chief executive Jason Robins said the company could benefit whether sports prediction markets remain available or are restricted, while it monitors related legal challenges. He said sportsbook handle rose about 15% year over year in the first two weeks of the NFL season, and the company may bring forward some customer-acquisition and marketing spending planned for 2027, depending on trading and customer data.
Jefferies estimated contract volume across DraftKings’ DKeX and Crypto.com’s Nadex at $42m. The outlet also reported that DraftKings prediction market exchange fees could exceed $57m during the NFL season.
Fanatics launched its Sports & Casino app in the United States on 2 September, combining sportsbook, online casino and prediction-market products, according to the company. The app uses one account and a shared FanCash balance, while available products change according to the customer’s location; the source says its sportsbook operates in 23 states and Washington, DC, and its casino in four states.
DraftKings has launched Combos, a feature allowing users to bundle up to six event contracts into one position, according to the company. The report says the rollout uses Crypto.com’s exchange infrastructure and excludes some sports and non-sports markets; DraftKings also introduced fees of one to two cents based on contract pricing tiers.