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Prediction market firms split on building or buying exchange licences as Underdog full-stack deal values at up to 1.3 billion dollars, GambleRss reports
- Prediction market firms split on building or buying exchange licences as Underdog full-stack deal values at up to 1.3 billion dollars, GambleRss reports — Operators and investors told EGR that prediction market firms are splitting between building their own exchange, buying a licensed one, or partnering, as CFTC licence stacks become the key asset. Underdog acquired the CFTC-approved Aristotle Exchange in March to gain a full DCM, DCO and FCM stack, a factor in IG Group's swoop for the company in a deal worth up to 1.3 billion dollars, while Novig obtained its DCM licence in June after a five-month turnaround and topped 125 million dollars in volume in its first week. (GambleRss)
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