Overview
Underdog’s exchange arm, Underdog Exchange DCM, Inc., filed this pre-enforcement suit on September 8, 2026, seeking a declaration that the Commodity Exchange Act preempts the state’s gambling law as applied to its sports event contracts, and an injunction against enforcement. It is one of six such suits Underdog filed in a week — Massachusetts, Ohio, Wisconsin, New Mexico and Washington on September 8, and Connecticut on September 15 — after the company surrendered its daily-fantasy licenses in several states. It is New Mexico’s sixth prediction-market action, and the two earlier platform suits there — Polymarket US’s and Novig’s — were both stayed by agreement. No ruling. (Caption, docket and filing date confirmed via CourtListener; the description of the claims is press-sourced.)
Timeline
September 8, 2026
Underdog Exchange DCM files a preemption suit for declaratory and injunctive relief.
What's next: Underdog filed proof of service on the defendants on October 26, 2026. The defendants’ time to answer was extended on November 6 on a request filed November 5; the new deadline is not on the free public record. No answer, motion to dismiss or stay has been filed. Both earlier platform suits against New Mexico ended in agreed stays with enforcement standstills.
Parties
Plaintiffs
- Underdog Exchange DCM, Inc.
- UDM, LLC d/b/a Underdog Predict
Defendants
- Raúl Torrez (New Mexico Attorney General)
- Terry McGaha (Acting Executive Director, New Mexico Gaming Control Board)
- Members of the New Mexico Gaming Control Board
This page is informational, not legal advice. Nearly every entry in this tracker is a preliminary ruling under appeal. Always verify a platform's current, location-specific eligibility directly with the venue before relying on this page.