SectorWire
SearchRegister
MenuClose

Kraken agrees to buy Small Exchange from IG Group for $100 million

Deals & M&A

Kraken is buying Small Exchange from IG Group for $100 million, a deal that gives Kraken access to a US designated contract market licensed by the CFTC. Kraken said the acquisition supports a US-based derivatives product range; the source describes a prediction-markets entry as a possible outcome, not an announced product launch.

The acquisition gives Kraken a regulated US exchange venue that could support future event-contract offerings.

Connections

Request a correction

Flag an issue

Keep reading

Regulation

Underdog sues Missouri over threatened prediction-market enforcement

Underdog sued Missouri in federal court on 8 November, seeking an injunction against enforcement action over its sports prediction markets. The company says the attorney general’s office warned on 6 November that action would begin within three days; its suit cites earlier compliance deadlines of 17 October and 30 October.

Underdog sued Missouri on 8 November and is seeking a preliminary injunction to block state enforcement, according to the lawsuit. The case was filed in the U.S. District Court for the Western District of Missouri, where the company argues that further efforts to close sports prediction markets could seriously harm its business.

Continue reading