Financial technology firm IG Group has agreed to purchase US daily fantasy and prediction markets operator Underdog for approximately $1.3bn. The transaction was announced on July 31, 2026, and positions Underdog as the third-largest regulated prediction venue in the United States by notional volume flow.
Strategic Expansion and Market Position
The acquisition aligns with IG Group’s plan to develop a worldwide consumer engagement platform that combines trading, investment, and entertainment services. Company executives indicated the deal will establish a stronger presence in what they describe as the largest and fastest-growing retail trading market. "The acquisition marks a decisive step in our long-term strategy," IG Group CEO Breon Corcoran stated.Underdog co-founder and CEO Jeremy Levine noted that the platform launched its prediction markets division last year and operates its own exchange. He indicated that merging with IG Group will expand the service’s reach and allow the company to introduce new features to a broader audience. The combined resources will support further development of the platform’s sports and general event prediction tools.