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Crypto.com and Underdog partner to offer sports prediction markets

1. Underdog partners with Crypto.com to launch sports prediction markets in 16 states. 2. Estimated sports prediction market could generate $555 million this year. 3. Legal online sports betting generated about $16 billion in 2024. 4. High potential for revenues in states with limited legal sports betting. 5. Regulatory uncertainties impact the future of sports prediction markets.

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Why Bullish?

The partnership expands revenue opportunities in an emerging market segment. Historical trends show similar sectors often drive market growth, as seen with online betting.

How important is it?

The emergence of new markets can significantly alter competitive landscapes and investment dynamics within the S&P 500 sectors influenced by gambling and entertainment.

Why Long Term?

The growth of sports prediction markets indicates a potential shift in betting paradigms long-term. Previous shifts in gambling regulations led to sustained market expansions.

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