Underdog, a sports predictions platform, announced the hiring of Nick Lundgren as its chief legal officer. Lundgren previously led Crypto.com’s event contracts exchange and was instrumental in launching U.S. sports betting markets in late 2024. His expertise in blockchain-based trading systems positions him to strengthen Underdog’s legal framework amid growing regulatory scrutiny.

Before joining Underdog, Lundgren shaped Crypto.com’s sports betting infrastructure, which saw a 300% increase in trading volume post-launch. The industry’s expansion has drawn attention from regulators, making Lundgren’s experience critical for navigating compliance challenges.

Underdog’s move signals a strategic shift toward institutionalizing sports predictions markets. With Lundgren on board, the platform aims to replicate Crypto.com’s success while differentiating itself through user-centric innovations. Analysts note this could solidify Underdog’s position in the competitive fintech space.