Three Platforms, One Ban: Underdog First to Sue Connecticut

Of the three companies hit with the same cease-and-desist order, only one has decided to head to court.

Connecticut recently issued cease-and-desist notices to several sports prediction market platforms, with Underdog, Polymarket, and Coinbase all on the list. The three companies aren't quite the same breed—Coinbase is a crypto exchange, Polymarket built its name on prediction markets, and Underdog specializes in sports fantasy contests and prediction-style games—but the state government has determined all three crossed the same line.

Rather than wait and see, Underdog went straight to suing Connecticut, asking the court to block the ban from taking effect. That makes it the only platform so far to publicly respond to the state's order with legal action.

The specific claims in the lawsuit, the legal basis Connecticut cited for its ban, and whether Polymarket or Coinbase will follow suit remain undisclosed for now.