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 that the exchange plans to apply for a Commodity Futures Trading Commission designated contract market license next month, expanding into prediction markets.
- A designated contract market serves as the core authorization for federally regulated exchanges to list futures, options, and event-based contracts under the Commodity Exchange Act, making it the mandatory starting point for firms operating prediction markets in the United States.
- Binance joins a competitive field that already includes Gemini, Coinbase, Robinhood, Kalshi, and Polymarket, firms that have previously secured CFTC licenses or built clearinghouse joint ventures to capture growing interest in event contracts.
- The Commodity Futures Trading Commission is rewriting rules that define 'gaming' and determine which contracts are 'contrary to the public interest,' while the agency has sued 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 deciding whether to commit capital across multiple prediction market venues.
23 Articles
23 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
IG Makes Prediction Markets a Growth Priority With $1.3 Billion Underdog Deal
IG Group has agreed to acquire US prediction markets and daily fantasy sports operator Underdog for up to approximately $1.3 billion, making the sector a central element of the broker’s next phase of expansion.The acquisition is a key outcome of the strategic review IG launched in March. Together with its proposed redomicile and refreshed organisational model, the transaction substantially concludes that process. Completion is expected in late 2…
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