Crypto.com partners with Underdog to launch a sports prediction market in the United States

ChainCatcher news, Underdog has partnered with Derivatives North America under Crypto.com to launch a sports prediction market in 16 states, prioritizing states where sports betting has not yet been legalized (such as California and Texas). After the launch, fans will be able to trade sports outcomes for major leagues like the NFL, NBA, MLB, and college football, with prices updated in real-time. However, the Commodity Futures Trading Commission and federal courts are still discussing whether sports prediction markets fall under gambling, whether they infringe on state rights, or violate the Gambling Regulatory Act.