- Underdog Predict adds yes/no event contracts on sports and culture to the Underdog fantasy app.
- It launched in September 2025 and since July 2026 also runs its own exchange, UDX, alongside Kalshi and Crypto.com.
- You pay an exchange fee per contract; funding is by card, Apple Pay or bank transfer.
- Several states are excluded, including Arizona, Michigan, Nevada and New York.
This Underdog Predict review covers how the product works, which exchanges it uses, what it costs and where it's available, as of October 2026. Underdog built its audience on fantasy sports; Predict is its federally regulated event-contract product, where you trade with other users. If you're new to the format, read what prediction markets are first. Nothing here is advice.
Underdog Predict: how it works
UDM, LLC, doing business as Underdog Predict, is a CFTC-registered futures commission merchant. It launched on September 2, 2025 with contracts from Crypto.com's exchange. In March 2026 Underdog bought a CFTC-registered exchange and clearinghouse from Aristotle, and on July 18, 2026 it launched its own exchange, UDX. The app still routes some markets to Kalshi and Crypto.com, showing one market per game and choosing the exchange for you.
Underdog Predict at a glance
| Feature | Underdog Predict |
|---|---|
| What it is | Broker (FCM) plus its own exchange, UDX |
| Exchanges | UDX, Kalshi, Crypto.com |
| Markets | Sports; culture, including politics, entertainment and economics |
| Fees | Exchange fee per contract |
| Funding | Debit or credit card, Apple Pay, bank transfer via Trustly; not PayPal, Venmo or Cash App |
| Who can use it | 18+, based on where you are physically located; several states excluded |
Fees and funding
Underdog's help center explains that each contract carries an exchange fee, shown before you confirm; its worked example uses 2¢ per contract. Check the order screen for the actual fee on each market, and compare all-in costs with our fee calculator. Deposits work by debit or credit card, Apple Pay or bank transfer through Trustly.
Where it's available
Eligibility depends on where you are when you trade, not where you live. Underdog's help center lists Arizona, Michigan, Nevada and New York as ineligible, and the full list is on its eligible-states page. Sports contracts in particular face state legal challenges, so the list can change.
Pros and cons
| Pros | Cons |
|---|---|
| Event contracts inside an app fantasy players already use | Several states excluded |
| Own exchange plus Kalshi and Crypto.com markets | You don't choose which exchange fills your order |
| Card and Apple Pay deposits | Sports-first; thinner on economics and politics |
| Fee shown before you confirm | No PayPal, Venmo or Cash App |
How it compares with trading on an exchange directly
Underdog's one-market-per-game layout is simpler than an exchange order book, but you give up control: the app chooses whether your order goes to UDX, Kalshi or Crypto.com. On an exchange you can see depth, post resting orders and compare prices yourself. Sportsbook-run apps such as DraftKings and FanDuel offer a similar trade-off. For occasional sports picks the convenience may be worth it; for frequent trading, compare the all-in cost on each venue before you buy.
Getting started
Open the Underdog app, switch to Predict, and complete identity checks if you haven't already. Your location must be in an eligible state when you trade. Fund the account by card, Apple Pay or Trustly, start small, and read each market's settlement rules.
Who it suits
Underdog Predict suits fantasy players who want to try event contracts without leaving the Underdog app. Traders who want more markets or more control over where orders go should compare it with exchanges in our platform comparison and our Kalshi review. Current sports prices are on our sports markets page.
Where this can go wrong
- You can lose your whole stake on any contract that resolves against you.
- Fees on both sides: buying and selling before settlement can each carry a fee.
- Rules matter: contracts settle on their exact wording and data source, which may differ from the headline.
- State rules change: sports contracts are being challenged in several states, so availability can shift.
Frequently asked questions
Is Underdog Predict legal?
Underdog Predict is a CFTC-registered broker and runs a CFTC-registered exchange. Availability depends on your location, and some states are excluded.
What is UDX?
UDX is Underdog's own prediction-market exchange, launched in July 2026 on the exchange and clearinghouse it bought from Aristotle.
Can I use PayPal on Underdog Predict?
No. Underdog's help center lists debit and credit cards, Apple Pay and Trustly bank transfers, and says PayPal, Venmo and Cash App aren't accepted.