Sports betting exchange platform Sporttrade has announced it will exit the US online sports betting market, bringing an end to its operations across several regulated states this summer.
The company confirmed that all wagering activity on its platform will stop on May 25, while the full shutdown of the service is scheduled for June 26. Customers in New Jersey must withdraw their account balances by May 25, while users in Arizona, Colorado, Iowa and Virginia will have until June 25 to cash out their funds. Any remaining balances after those deadlines will reportedly be returned by mailed checks to the addresses linked to customer accounts.
The decision marks a major shift for Sporttrade, which had previously positioned itself as an innovative alternative to traditional sportsbooks through its exchange-style betting model. The platform aimed to bring financial market mechanics into sports wagering, allowing odds to fluctuate more dynamically in a format similar to stock trading.
Sporttrade had also been pursuing approval from the Commodity Futures Trading Commission (CFTC) in an effort to offer prediction market products under federal oversight rather than standard state gambling regulation. However, despite those ambitions, the operator has now chosen to withdraw from the regulated online sports betting sector in the US.
The company had expanded into multiple states over recent years through partnerships with major gaming companies, including deals with operators such as Caesars Entertainment and Penn National Gaming. Earlier expansion plans had signaled confidence in the long-term growth of the US betting market.
Sporttrade has not provided extensive details on what comes next for the business, although its customer communication hinted that future developments may still be on the horizon.