What States are Underdog Prediction Markets Legal In?

Is Underdog Prediction Markets legal? The short answer is yes, as Underdog Predict offers contract markets via Crypto.com, which is regulated by the Commodity Futures Trading Commission (CFTC). However, there are a few caveats.

To make predictions on this app, you must be over 18 and located in any of the 39 jurisdictions where Underdog Predict is legal. We should add that the prediction market landscape is moving quickly, so this is subject to change. That’s why we recommend that you bookmark this page and revisit us for updates.

Why Underdog Predict Is Legal in the US

It might be best known as a daily fantasy sports (DFS) brand, but as we explained in our Underdog review, you can also purchase “Yes” or “No” event contracts via the Underdog Predict part of the app. The prediction markets at Underdog are legal to US-based users aged 18+ in 38 states and Washington DC.

Underdog offers these events contracts via Crypto.com, which is an exchange that’s regulated by the Commodity Futures Trading Commission (CFTC). While things are moving quickly and subject to change, this type of regulated financial trading activity is legal for adults in most of the US.

Before we go into more details, here are the key facts about this prediction markets app:

Disclaimer: Trading derivatives involves risk and may not be appropriate for all. For more information visit: https://www.nadex.com/rules and https://underdogfantasy.com/rules. For Crypto.com Predictions, the term "pick" refers to a product traded on CDNA.

Underdog Prediction Markets States - 38 States + DC

The prediction markets at Underdog fall under different legislation and regulations from their fantasy sports offerings. As a result, to purchase “Yes” or “No” standard event and sports prediction market contracts on the app, you must consent to the Crypto.com T&Cs and Privacy Policy.

The minimum Underdog age limit is 18+, and you must be a resident of ,and physically located in, any of the 39 legal US jurisdictions listed in the table below.

Underdog Prediction Markets - Pros and Cons

Here are the pros and cons of the legal situation surrounding Underdog’s event contracts in the US:

Pros and Cons

• CFTC-regulated
• Legal in 38 states + DC
• 18+ age limit
• Compliant Privacy Policy and T&Cs

• Prohibited in certain states
• State laws on prediction markets are subject to change

How to Sign Up to Underdog Predict - Step-By-Step

If you are over 18 and located in Washington DC or one of the legal states listed in the table above, here’s how you can create your account:

1. Visit - Follow the banners on this page to the Underdog website

2. Download - Download and install the app from the App Store (iOS) or Google Play (Android)

3. Register - Open the signup form

4. User - Create a username and password

5. Contact - Enter a valid email address

6. D.O.B - Enter your date of birth (must be over 18)

7. Code - Enter a referral or promo code if you have one

8. Submit - Hit the “Create Account” button to finish

Getting Verified

To verify your account, you must provide the following info:

• Full name
• Address
• Date of birth
• Last four digits of your Social Security Number (SSN)

Creating Your Crypto.com Account

Once you’ve completed the steps above, you’ll be able to access the DFS contests on the Underdog app. However, to purchase event contracts, you must consent to opening a Crypto.com account. To do this, you must read and acknowledge the following documents, which will be linked to you from the app directly:

• Crypto.com Terms of Use
• Crypto.com Privacy Policy
• Risk Disclosure Statement
• Membership Agreement
• CDNA Rulebook

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How Do Underdog’s Prediction Markets Work?

On Underdog Predict, you can purchase “Yes” or “No” event contracts for sporting outcomes. The contracts are priced from $0.01 to $0.99 and are roughly based on the implied probability percentage of the outcomes.

For instance, if the Packers had a 60% chance of winning, the “Yes” contract would be $0.60 and the “No” would be $0.40. The packers would need to win for the contract to resolve as a “Yes”, in which case the value of every “Yes” contract on this prediction market would go to $1.00.

Underdog Prediction Markets' Legality - Conclusion

In summary, underdog Prediction markets are legal in 38 states and Washington DC in the United States. The events contracts are exchanged on Crypto.com, which is CFTC-regulated.

You must be over 18 to purchase yes or no events contracts, and we advise careful consideration of this financial activity before you sign up. You can just as easily lose money on prediction market apps as you can make a profit.

Is Underdog Prediction Markets Legal? FAQ