By SectorWire desk · · Updated
Underdog sued Tennessee officials on Tuesday over a directive to withdraw sports event contracts. The report says the state's action also threatens Underdog's fantasy licence.
The dispute puts Underdog's sports event contracts and fantasy licence in Tennessee at risk.
Request a correction / right of reply
Linked through shared companies, regulators and people, or one step further through the graph.
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 suit contests state authority over Underdog’s prediction market and follows a ruling against Kalshi.
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.
Prediction market operators face Connecticut cease-and-desist orders over alleged breaches of state gaming laws involving sports event contracts.