Former Crypto.com chief legal officer Lundgren helped to create the first CFTC-regulated sports prediction market in 2024
Underdog is continuing its prediction markets expansion with the appointment of Nick Lundgren as chief legal officer.
Lundgren joins Underdog after stepping down last month as chief legal officer of Crypto.com and CEO of its CFTC-regulated prediction markets platform OG.com.
Prior to that, he held roles at Seattle-based law firm Perkins Coie and Amazon, focused on crypto, fintech, and derivatives.
“Nick has been one of the true leaders and innovators in our category, and we’re psyched to have him at Underdog to help lead the continued growth of our business,” said Underdog CEO and co-founder Jeremy Levine. “He has been a pioneer in this nascent space, and we’re excited to continue building new and compelling experiences for sports fans with his expertise.”
Commenting on his appointment, Lundgren said: “I’ve worked with every US sports company live in prediction markets to date, and after working with Underdog on Crypto.com’s platform, seeing them become the first sports enterprise with the full stack of CFTC licenses, I knew they were best equipped from a team, expertise and product standpoint to run away with the largest category in prediction markets — sports. And I knew I had to be there.”
Underdog currently offers access to prediction markets as an intermediary to other exchanges, including Crypto.com and Kalshi, with the company continuing to expand its prediction offerings under its own exchange following its acquisition of CFTC-registered derivatives exchange and clearinghouse from Aristotle Inc.