By SectorWire desk ·
Underdog launched its own prediction-market exchange. The launch follows previously announced exchange acquisitions and gives it greater control over event-contract trading economics.
Owning the exchange lets Underdog retain greater control over its event-contract business.
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The suit contests state authority over Underdog’s prediction market and follows a ruling against Kalshi.
The injunction request contests Tennessee’s application of wagering laws to Underdog’s event-contract exchange.
The lawsuit challenges Tennessee’s ability to apply state wagering laws to Underdog’s event contract platform.
The dispute puts Underdog's sports event contracts and fantasy licence in Tennessee at risk.
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.