Underdog taps zerohash to bring crypto deposits to prediction markets

Prediction market operator Underdog has partnered with crypto infrastructure provider zerohash to introduce cryptocurrency and stablecoin deposits, with the new funding option expected to launch later this year.

Eligible users will be able to fund their accounts directly through the Underdog app using supported digital assets, with the service designed to enable near-instant transfers around the clock, according to a Thursday announcement.

Underdog did not specify which cryptocurrencies or stablecoins would be supported and did not respond to Cointelegraph’s request for clarification before publication.

The new funding option will supplement existing methods, including debit and credit cards, Apple Pay and bank transfers. Users will not need to manage wallet addresses or select blockchain networks when making deposits.

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

According to DeFiRate data, the company recorded $1.4 billion in trading volume over the 30 days ending Oct. 21, a 133% increase from the previous period, though it remained well behind Kalshi’s $81.5 billion and the combined $17.2 billion recorded by Polymarket’s US and international platforms.