Underdog CEO on Partnering with Crypto.com for Sports Prediction Markets

Underdog and Crypto.com Partnership

• 🚀 Underdog is partnering with Crypto.com to launch sports prediction markets.
• 🎯 This initiative aims to serve 16 states where legal sports betting is not currently available.

Expanding Gaming Access

• 💡 The partnership allows users to pick teams and predict outcomes, expanding beyond fantasy sports player picks.
• ⚖️ Prediction markets are federally regulated by the CFTC, making them legal in all 50 states.
• 🗺️ This move represents a significant expansion of gaming abilities, particularly in states without traditional sports betting.

Underdog's Growth and Vision

• 📈 Underdog, a 5-year-old company, is experiencing rapid growth, projecting nearly $50 million in revenue in its fifth year.
• 🏆 They are the first company in their space to offer prediction markets to active sports customers.
• 💬 Users can make predictions on teams, such as predicting a team's win, via the Underdog app.

Market Potential and Regulation

• 🚫 States where gambling is not allowed are not pushing back due to the federal regulation by the CFTC.
• 🏈 Prediction markets are expected to see over 95% of their volume driven by sports.
• 🛠️ Underdog's core strategy is to build the best product in the sports space to capture a large market of sports fans.