Launch follows acquisition of CFTC-registered Aristotle Exchange earlier this year
Underdog has launched an in-house prediction market platform following its acquisition of Aristotle Exchange.
The new exchange is licensed by the Commodity Futures Trading Commission (CFTC) and provides Underdog customers with more ways to bet on sports, culture and more, within the existing Underdog app.
“We started this company with a clear belief – there is so much more to be built for sports fans in America,” said Underdog CEO and co-founder Jeremy Levine. “Despite incredible changes in the US market in recent years, through the twisting journey from fantasy sports to regulated sports betting to prediction markets, we still see an industry that far too often simply misses in serving sports fans.
“Now with our own exchange, we’re going to unlock so much for more sports fans. Prediction markets are largely about sports, and Underdog is the best at sports.”
In March, Underdog acquired Aristotle Exchange DCM and Aristotle Exchange DCO, which are a CFTC registered Designated Contract Market (DCM) and a Derivatives Clearing Organization (DCO).
Underdog is also a registered Futures Commission Merchant (FCM), making it the first sports company with the complete prediction market license stack.
Before the launch of its own exchange, Underdog offered access to prediction markets through other exchanges, including Crypto.com and Kalshi.