Crypto.com has launched OG, a CFTC-regulated prediction markets app.
Crypto.com is spinning prediction markets right into a standalone platform constructed for customers, not simply merchants.
With social options and deliberate margin buying and selling, OG goals to redefine how sports activities and real-world outcomes are traded within the U.S.
Crypto.com is spinning off its prediction market enterprise right into a standalone platform referred to as OG, and it’s launching simply days earlier than the Tremendous Bowl.
The platform will provide CFTC-regulated sports activities occasion contracts together with markets protecting monetary, political, cultural, and leisure occasions. OG can even be the primary prediction market platform to supply margin buying and selling on prediction contracts.
The primary a million customers to enroll will obtain as much as $500 in rewards.
Why a Standalone Platform Now?
The numbers inform the story. Crypto.com has seen 40x weekly development in its prediction market enterprise over the previous six months. That form of traction demanded its own residence.
“Crypto.com efficiently constructed one of many largest manufacturers and finest app experiences in cryptocurrency throughout a interval of hypergrowth amid a fancy regulatory panorama, and now we’ll work to duplicate this expertise with OG within the prediction market house,” mentioned Kris Marszalek, Co-Founder and CEO of Crypto.com.
OG is powered by Crypto.com | Derivatives North America (CDNA), the identical CFTC-registered trade and clearinghouse that launched the nation’s first federally licensed sports activities prediction contracts again in December 2024.
Nick Lundgren Named OG CEO
Nick Lundgren will lead OG as CEO. He at the moment serves as Crypto.com’s Chief Authorized Officer and was the one who led the CDNA acquisition in 2022, then the biggest acquisition in crypto historical past.
“Sports activities are the pure hub of prediction markets, and we see an enormous alternative to supply followers with an all-encompassing platform the place it pays to be proper,” Lundgren mentioned. He referred to as prediction markets a “deca-billion greenback business.”
VIP Program Faucets Main Sports activities Partnerships
OG will roll out a VIP program tied to Crypto.com’s current sports activities offers. That features entry to experiences by means of Crypto.com Enviornment, UFC, Method 1, and UEFA Champions League.
The launch lands at an attention-grabbing time. The CFTC mentioned final week it will craft new guidelines for the prediction market business. OG can be headquartered within the US and targeted on that market first.
