Goodwin’s Technology and Sports teams advised Underdog Fantasy in connection with its agreement to acquire Aristotle Exchange DCM, Inc. and Aristotle Exchange DCO, Inc., which are a Commodity Futures Trading Commission (CFTC) registered Designated Contract Market (DCM) and a Derivatives Clearing Organization (DCO), respectively. The acquisition enables Underdog to offer its own prediction market exchange, giving customers even more ways to express their opinions on sports and beyond. Underdog was the first sports gaming operator to offer access to sports prediction markets in its app last September.
Underdog, the fastest-growing private sports company in the US, was founded in 2020 with the simple objective of making sports more fun. Underdog has a unique ability to create new, engaging products for the US consumer. The company offers prediction markets, fantasy sports games, and a growing media network featuring former professional athletes, coaches, analysts, and the fastest breaking news. Underdog is built for and by sports fans to make sports more fun.
The Goodwin team was led by Joshua Eisenson, Nate Hagler, Jason Goldfarb, Trey O’Callaghan, Joel Jacobson, Peter Moorman, Jack Rosen, Jeffrey Toomey, Tori Stark, Charlie Davis, Paul Jin, Simone Waterbury, Elliot Silver, Arom Yun, Nicholas Pellow, Beth Withers, David Scott, Sean Philbin, Jackie Klosek, Jonathan Ng, Timothy Holahan, Janelle Dempsey, Andy Barton, Bradley Stewart, Chris Jones, Janet Andolina, Chase Gorland, Jessica Gill, Melissa Schwab Wright, Justin Pierce, Justin Shields, Ai Tajima, Virginia Wong and Andrew Kim, with invaluable assistance from Rachel Qi, Austin Lorenzo, and Kathryn Georgian.
For more information on the deal, please read the press release.