Underdog first major operator offering event contracts
Underdog Fantasy
This move turns Underdog from a fantasy app with a sportsbook into a full stack sports action wallet. Best Ball captures preseason drafting, Pick'em drives frequent player prop style entries, the sportsbook covers standard wagers, and market priced event contracts add a live trading format where prices move as sentiment changes. That matters because the same customer can now stay inside one app for more sports behaviors instead of splitting attention across fantasy apps, sportsbooks, and exchanges.
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The product difference is concrete. Pick'em is a house game where Underdog sets the line and keeps the edge in the payout table. Prediction markets are exchange style contracts, where customers buy and sell positions at changing prices on outcomes like game winners, using Crypto.com's federally regulated exchange rails inside Underdog's app.
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This also changes distribution. Underdog already used fantasy as a cheaper on ramp into sportsbook behavior, with one wallet and one home screen creating lock in. Adding event contracts gives it another step in that ladder, especially in places where sportsbook access is limited but federally regulated contracts can still reach users.
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The comparable set is shifting fast. Fanatics launched Fanatics Markets with Crypto.com in late 2025, and DraftKings acquired Railbird in October 2025 before launching DraftKings Predictions in December 2025. Underdog got there first among major sports gaming operators, but the broader market is clearly converging on prediction contracts as a new sports product layer.
The next phase is a race to decide which sports app becomes the default place to express an opinion on a game, whether through a fantasy pick, a bet, or a tradeable contract. Underdog's advantage is that it already has all three behaviors in one product, which gives it a real shot at owning more of each customer's sports spend and screen time.