Underdog adds crypto deposits for prediction markets via zerohash

Prediction market and sports-gaming operator Underdog has partnered with crypto infrastructure firm zerohash to accept cryptocurrency and stablecoin deposits, with the option expected to go live later this year, according to a Thursday announcement reported by Cointelegraph. Eligible users will be able to fund accounts directly in the Underdog app, around the clock and with near-instant settlement, the companies say.

What changes for users

• New funding rail: crypto and stablecoins join existing options — debit and credit cards, Apple Pay and bank transfers.
• No address copying: users will not have to manage wallet addresses or pick a blockchain network when depositing. That matches the approach zerohash has been pushing with its AUTH transfer system, which aims to remove the error-prone step of pasting long addresses.
• Unknown coin list: Underdog has not said which cryptocurrencies or stablecoins will be accepted and did not answer Cointelegraph's request for detail before publication.
• Eligibility: only "eligible" users will get the feature; Underdog has not published the criteria.

Who Underdog is

Founded in 2020, Underdog has more than 11 million registered accounts, according to IG Group, which agreed in July to buy the company in a deal worth up to $1.3 billion. That transaction is expected to close in late 2026 or early 2027.

DeFiRate data cited by Cointelegraph show Underdog processed $1.4 billion of trading volume in the 30 days to Oct. 21, up 133% on the previous period. It remains a small player next to Kalshi at $81.5 billion and Polymarket, whose US and international platforms together did $17.2 billion.

Why it matters

Prediction markets are one of the fastest-growing consumer uses of crypto rails, and stablecoins are the natural funding currency: they move 24/7 and settle without card networks. For operators, a third-party infrastructure provider handles custody, conversion and compliance so the app never has to become a crypto exchange itself. If you are new to dollar-pegged tokens, our guide what is a stablecoin explains how they hold their value. Popularity has limits, though: polls show many voters dislike betting on elections, which keeps regulators interested.