A growing number of companies are dipping their toes in sports prediction markets amid a national regulatory vacuum on sports betting.
Why it matters: Sports gambling is traditionally regulated on a state-by-state basis, but prediction markets are offering betting opportunities that transcend state lines.
The NBA's private equity ownership rules may be tested by the record-breaking Boston Celtics sale, in a way that could have repercussions for future transactions.
The big picture: Bill Chisholm, the club's presumptive new control owner, has committed less money to the two-part deal than has Sixth Street Partners, according to three sources.
Underdog, a Brooklyn-based fantasy sports and sports betting app, tells Axios that it raised $70 million in Series C funding at a $1.23 billion valuation from Spark Capital. It's the first close of a round that could total more than $100 million.
Why it matters: Underdog co-founder and CEOJeremy Levine sold prior startups to both DraftKings and the parent company of FanDuel, but recently told employees that he has no intention of "finishing third again."
