As Underdog changes its focus from traditional sports betting and fantasy contests to prediction markets, the company has decided to lay off 125 employees, of which...
Underdog announces the acquisition of Aristotle Exchange
Underdog, the sports betting, fantasy, and prediction markets operator, has announced the acquisition of CFTC-registered Aristotle Exchange on March 9, 2026.
Aristotle holds two entities, Aristotle Exchange DCM and Aristotle Exchange DCO, which are registered with the Commodity Futures Trading Commission (CFTC) and will allow Underdog to get both a Designated Contract Market (DCM) and a Derivatives Clearing Organization (DCO).
Underdog already launched a prediction market with Crypto.com in 2025, making it the first fantasy sports operator to enter the event contracts space, and the new acquisition will give the operator the chance to offer its own federally compliant prediction market exchange.
Underdog CEO Jeremy Levine commented:
“We look forward to working with the CFTC to offer an exchange that brings even more options to enjoy sports to our customers. 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.”
Underdog added that it will continue to expand its prediction market offerings under the product.
Underdog is exiting the North Carolina sports betting market and will cease betting on December 16, 2025, with full sportsbook operations ending on December 17, 2025.The...
