Underdog Sold to U.K.’s IG Group in Potential $2.15B Deal

Inside the Prediction Markets: Brokers Double Down as States Challenge the CFTC

Capital keeps flowing into the category through acquisitions, broker distribution, and new sports sponsorships. The legal question of who gets to regulate it, however, is still wide open.Here's what mattered this week.IG Group's Underdog deal pulls more brokers into prediction marketsIG Group agreed on July 30 to acquire prediction markets operator Underdog for up to $1.3 billion, split between $1.1 billion upfront and a $200 million earnout. Th…

Underdog Sold to U.K.’s IG Group in Potential $2.15B Deal

U.K.-based IG Group has purchased prediction-market platform Underdog in a deal that could be worth up to $2.15 billion.