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Rob Hadick ＞|＜

@HadickM

Yesterday CME said they were going to launch sports related options and futures. Today IG Group buys Underdog. Both Kalshi and Polymarket had their best months ever in June primarily with massive WC volumes. And I’ve seen actual institutional hedging using sports event contracts on both Poly and Kalshi. Seems clear the market for sports event contracts is going to get far bigger, and the institutional players are paying attention. This isn’t just about gaming, there are broad uses here that will get much bigger than people realize. Excited to see how this keeps evolving.

Sheesh, U.K.-based trading provider IG Group has announced it is buying DFS/prediction market operator Underdog for around $1.3 billion. "Underdog has become the third-largest US prediction markets venue by US regulated notional volume flow..." https://x.com/GeoffZochodne/status/2082875519637369109/photo/1

10:04 PM · Jul 30, 2026 · 22K Views

15 Reposts 1 Quotes 98 Likes 31 Bookmarks

8 replies collected of 11 X reports

Analog 🔊 @AnalogEchoes · Jul 30

@HadickM ngl sports as an asset class is getting weirdly real

Yasu0x.hl🫀 @yasu0x1 · Jul 30

@HadickM CME saw Polymarket volume and said we need a piece of that IG Group just speedran the whole playbook

Pierfrancesco Bertola | Multyr @Pier_Multyr · Jul 30

Solid take. Sports contracts are quietly shifting from pure gambling product into actual risk-transfer tools. CME + IG both moving this week isn’t coincidence, institutions finally see the real demand for hedging exposure that used to just sit on P&Ls. The upside here is a lot bigger than most people are pricing.

Leon @Leon_Defi · Jul 31 10K

@HadickM everyone acting like this is niche until the hedge funds start using it for real alpha

Maksym Sakharov @maksymsakharov · Jul 31

@HadickM traditional sportsbooks cap size quickly, so institutional desks use prediction venues to lay off risk. event contracts are turning into real hedging venues.

Pierre Lindh @Pierreobv · Jul 31

@HadickM certainly feels like a tipping point.. CME launching sports derivatives, IG Group acquiring Underdog for $1.3B, and institutions actually hedging on exchanges. covering all of this at NEXTPredict NYC in October

Luis Hauenstein @luishXYZ · Jul 31

@HadickM Care to elaborate where you see economic need for real world hedging on sports events? Can you name a few examples of this "institutional hedging" you've seen?

UncleStonks @UncleSt0nks · Jul 31

@HadickM @pennycheck didn’t see CME news yet, I look up “who’s gonna supply the data” —> official sports teams themselves —> wonder who is partnered directly with teams for data