Underdog asks court to curb Connecticut’s prediction-market crackdown

Underdog has filed a federal lawsuit against Connecticut officials after the state ordered the company to stop offering sports-event contracts, escalating a fight over who has authority to regulate prediction markets. The company is one of nine firms hit with a cease-and-desist order from the Connecticut Department of Consumer Protection. The DCP’s order also named Polymarket, Coinbase, Crypto.com, Robinhood, Prophet X, Novig, Webull, and Gemini, directing all nine to stop advertising sports-eve