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Nasdaq Expands Its Market Technology to Sports-Betting Industry

Nasdaq Inc. is lending its market technology to the sports-betting industry, allowing users to get in and out of wagers the same way they trade stocks. Fintech company Sporttrade Inc. will use software from New York-based Nasdaq to oversee its sports betting and trading platform, the companies said. The cloud-based software, used by 2,300 companies across the finance industry, will help monitor sports bets to identify irregularities and unusual trading behavior. Sporttrade bills itself as the first regulated sports-betting exchange in U.S. history, and is led by a team with sports-wagering and capital-markets backgrounds. The company functions much like the stock market that Nasdaq technology already supports, offering tighter spreads, more liquidity and the ability to trade in and out of bets at any time. Its trading app is set to launch in New Jersey by the end of the year, with additional states following in 2022 and after.

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