Underdog Expanding Prediction Market Offerings After Aristotle Exchange Acquisition

• Underdog today announced the acquisition of Aristotle Exchange
• Aristotle Exchange is a CFTC-registered designated contract market and derivatives clearing organization
• Underdog will use the acquisition to expand its prediction market offerings

Underdog is investing even more into its prediction market offerings.

Underdog today announced the acquisition of Aristotle Exchange DCM, Inc., and Aristotle Exchange DCO, Inc., both Commodity Futures Trading Commission (CFTC) registered designated contract market (DCM) and derivatives clearing organizations (DCO), according to a press release.

The acquisition will allow Underdog to expand its prediction market offerings by using its own exchange.

Bringing More Options to Customers

Underdog currently offers access to prediction markets as an intermediary to other exchanges. Underdog’s acquisition enables the company to now offer its own federally-compliant prediction market exchange.

“We look forward to working with the CFTC to offer an exchange that brings even more options to enjoy sports to our customers,” said Jeremy Levine, CEO and Co-Founder of Underdog. “We’re in the early innings of what prediction markets can be, especially for sports fans. We’ll use this opportunity to bring the same relentless focus on innovation and experience that we’ve always brought to our customers. The reality is, prediction markets are primarily about sports and no company knows how to engage with sports fans and create products for sports fans better than Underdog.”

By using its own exchange, Underdog will be able to offer expanded prediction offerings to its customer base.

Underdog launched its prediction market offerings in early September after announcing a partnership with Crypto.com. The partnership enabled Underdog customers to trade and purchase sports event contracts across all major sports leagues, including the NFL and college football, the first of its kind between a CFTC-registered exchange and a gaming company.

Focusing on Prediction Markets

Underdog’s acquisition of Aristotle Exchange supports the company’s decision to invest more into prediction markets. Underdog stopped offering North Carlina online sports betting on Dec. 16 to focus on prediction markets, launching its services in the Tar Heel State shortly thereafter.

This came several weeks after Underdog pulled its license from Missouri one week prior to the state’s sports betting launch on Monday, Dec. 1. Underdog Predictions launched in Missouri shortly after the company pulled its license.

The company currently offers its prediction markets in 31 states throughout the country.