Underdog and Crypto.com Partner to Launch Sports Prediction Markets in 16 States
The new platform will target states where sports betting is not yet legal, such as California and Texas, while its regulatory status remains under CFTC review.
Summary
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Terms & Concepts
Prediction Markets: Platforms where users can trade contracts based on the outcome of future events. In this case, it allows trading on the results of sports games.
CFTC: The Commodity Futures Trading Commission is an independent agency of the US government that regulates the U.S. derivatives markets, which can include certain crypto products and prediction markets.