Underdog Taps ZeroHash to Bring Crypto and Stablecoin Deposits to Prediction Market App
Key Takeaways
- •Underdog is partnering with ZeroHash to enable cryptocurrency and stablecoin deposits within its app, with the feature expected to roll out later this year.
- •The new funding method is designed for near-instant, 24/7 transfers and will complement existing deposit options including cards, Apple Pay, and bank transfers.
- •Underdog has not specified which digital assets will be supported, leaving the asset list unresolved ahead of the launch, and users will not need to handle wallet addresses or choose blockchain networks.
- •IG Group, a London-listed trading company, agreed in July to acquire Underdog in a deal worth up to $1.3 billion, with closing expected in late 2026 or early 2027.
- •Underdog recorded $1.4 billion in trading volume over the 30 days ending Oct. 21, a 133% increase, but remains well behind Kalshi's $81.5 billion and Polymarket's combined $17.2 billion.
Prediction market operator Underdog has partnered with crypto infrastructure provider ZeroHash to introduce cryptocurrency and stablecoin deposits, with the new funding option expected to roll out later this year.
According to a Thursday announcement, eligible users will be able to fund their accounts directly through the Underdog app using supported digital assets. The service is designed to enable near-instant transfers around the clock, in contrast to bank transfers, which typically operate within banking hours and business-day settlement cycles.
Underdog did not specify which cryptocurrencies or stablecoins would be supported, and the company did not respond to Cointelegraph's request for clarification before publication. The asset list remains one of the unresolved details ahead of launch.
The crypto funding option will supplement Underdog's existing deposit methods, which include debit and credit cards, Apple Pay and bank transfers. Users will not need to manage wallet addresses or select blockchain networks when making deposits.
ZeroHash provides crypto-as-a-service infrastructure that allows companies to embed digital-asset payments, custody and settlement directly into their products. It is the kind of arrangement that lets consumer apps add digital-asset funding without exposing users to the underlying technical steps.
Founded in 2020, Underdog has more than 11 million registered accounts, according to IG Group, the London-listed online trading company that agreed in July to acquire the platform 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, Underdog recorded $1.4 billion in trading volume over the 30 days ending Oct. 21, a 133% increase from the previous period. The figure nonetheless remained well behind Kalshi's $81.5 billion and the combined $17.2 billion recorded by Polymarket's United States and international platforms.
Prediction markets allow users to trade on the outcomes of real-world events such as elections, sports results and economic data releases, and the sector has posted rapid growth in trading activity in recent years. Underdog's new funding option and IG Group's pending acquisition illustrate how the sector now spans crypto payment infrastructure and traditional trading firms.
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Source: Cointelegraph
