Underdog launches drive-by-drive NFL markets as CFTC scrutiny grows
Rep. Ro Khanna this week called for Congress to ban sports prediction markets entirely.
The hit
Underdog has launched drive-by-drive NFL prediction markets, which its director of product Harry Raymond says he believes is the first product of its kind. Raymond tweeted screen recordings of the markets during Monday Night Football between the Bills & Vikings. The contracts cover outcomes including the result of the next drive & who catches a pass on it, according to Legal Sports Report.
Why it matters
The launch lands weeks after the CFTC paused Novig’s micro contracts over manipulation concerns, & as several states weigh banning micro bets at sportsbooks. Regulated sportsbooks must offer tools such as deposit limits & self-exclusion. Prediction markets like Underdog are not required to follow the same consumer protections as state-regulated sportsbooks, meaning no 21-plus age limit & no requirement to offer those tools, though some have added similar ones on their own.
The record
| New Jersey’s micro-bet ban bill S2160 | Advanced out of committee in March, stalled since |
|---|---|
| Congressional ban bill | Prediction Markets Are Gambling Act, filed by Sen. John Curtis in March |
| Rep. Ro Khanna’s stance | “Congress must ban them,” posted on X |
What happens next
Watch whether the CFTC responds to Legal Sports Report’s question on whether Underdog’s contracts count as micro contracts.
Sources: Micro Bet Scrutiny Grows as Underdog Adds NFL Drive Markets
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