By SectorWire desk ·
The report said that Underdog sold to IG Group for $1.3bn. Underdog had expanded from daily fantasy sports into prediction markets before the transaction.
The acquisition adds Underdog’s gaming and prediction market business to IG Group.
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The lawsuit challenges Tennessee’s ability to apply state wagering laws to Underdog’s event contract platform.
IG Group’s sports betting licence application follows its acquisition of US prediction market Underdog.
Investors face doubled Underdog Q3 revenue alongside IG’s lowered 2026 outlook ahead of deal completion.
The comments identify regulatory uncertainty as a consideration in IG Group’s Underdog transaction.
The planned transaction would bring regulated exchange and clearing capabilities into IG’s prediction-market expansion.
The proposed purchase would give IG Group an entry into US prediction markets.