Fantasy sports company Underdog acquired a federally regulated derivatives exchange and clearinghouse from
The deal will allow Underdog to operate one of the handful of derivatives exchanges able to directly list and clear sports contracts in a rapidly growing sector of finance. In addition to sports, Underdog plans to list prediction markets on cultural events. Terms of the transaction weren’t disclosed; Aristotle will retain control of the PredictIt exchange.
Underdog launched prediction markets trading in September through a partnership with