IG Group's $1.3B Bet on US Prediction Markets
IG Group Holdings is acquiring US prediction markets operator Underdog Sports Holdings for up to approximately $1.3 billion, including an upfront enterprise value of $1.1 billion and a performance-based earnout. The deal, announced 30 July 2026, will be funded through new IG shares and debt, including a $450 million loan from Barclays and Goldman Sachs. Underdog, which averaged 952,500 monthly active users in H1 2026 and swung to positive EBITDA of $59.6 million, will operate as a standalone business under IG Group. Completion is expected in late 2026 or early 2027, subject to regulatory approvals.
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