UK's IG Group Bets Big on US Prediction Markets with $1.3 Billion Underdog Deal
The proposal would set a new public-interest test for blocking contracts as firms seek designated contract market status to list event contracts.
- Binance.US CEO Stephen Gregory announced on Wednesday plans to apply for a Commodity Futures Trading Commission designated contract market license next month, expanding the exchange into prediction markets.
- A designated contract market serves as the core authorization for federally regulated exchanges to list futures, options, and event-based contracts, making it the mandatory starting point for firms operating in the United States.
- Binance joins a competitive field that already includes Gemini, Coinbase, Robinhood, Kalshi, and Polymarket, which have previously secured licenses or built clearinghouse joint ventures to capture growing interest in event contracts.
- The Commodity Futures Trading Commission is rewriting rules defining 'gaming' and 'contrary to the public interest,' while simultaneously suing nine states, including Arizona and New York, to assert exclusive federal jurisdiction.
- For an industry that raised a combined $25 billion in trading volume across CFTC-registered markets in 2025, regulatory clarity remains critical for institutional traders; clearer standards could attract further capital to the evolving prediction market landscape.
28 Articles
28 Articles
UK's IG Group bets big on US prediction markets with $1.3 billion Underdog deal
July 30 : Britain's IG Group said on Thursday it has agreed to acquire U.S. daily fantasy sports and prediction markets operator Underdog for up to $1.3 billion, deepening its push into the fast-growing U.S. retail trading market.The deal includes an upfront consideration based on an enterprise value of about
Binance.US to Seek CFTC Designated Contract Market License in August for Prediction Markets Push
Binance.US plans to apply next month for a designated contract market license from the Commodity Futures Trading Commission, a step that would let it run its own prediction market. CEO Stephen Gregory reportedly disclosed the plan Wednesday during an on-stage interview at the Rare Evo conference in Las Vegas. A DCM is the CFTC’s core authorization for a federally regulated exchange to list futures, options and event-based contracts. Applicants m…
Cointelegraph
BITRSSBinance.US to Attempt Prediction Markets Entry as CFTC-Licensed Entity, says CEO
More than a year after the US securities regulator dismissed a lawsuit against Binance entities, the US exchange is looking to the CFTC for regulated prediction markets.
What the CFTC’s New Prediction Markets Rule Means for Institutional Capital
The Commodity Futures Trading Commission is in the middle of rewriting the rulebook that decides which prediction market contracts can legally trade in the United States, and the public comment window on that rewrite closed July 27. For an industry that raised a combined $25 billion in trading volume across CFTC-registered markets in 2025, according to the agency’s own proposal, that rulebook determines which exchanges get to exist at all. What …
Binance.US Wants to Join Prediction Markets Race With CFTC Stamp
How Underdog went from DFS startup to $1.3B prediction markets acquisition
Timing and agility dictate the success of most mergers and acquisitions, as Underdog Sports showed clearly in selling Thursday to IG Group for $1.3bn. After launching a daily fantasy app focused on pick’em and best ball games in 2020, Underdog leveraged a swift pivot to prediction markets late last year to cash in on the suddenly booming vertical at a valuation hard to imagine even two years ago. “Prediction markets are one of the most exciting …
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