Crypto.com has announced the launch of its new prediction market platform, named OG, just in time for the Super Bowl. This standalone platform allows users to engage in CFTC-regulated contracts for sporting events, as well as markets that span financial, political, cultural, and entertainment sectors.
OG stands out as the first prediction market platform to implement margin trading on its prediction contracts. The initiative aims to attract early adopters, offering the first million registrants up to $500 in rewards.
The decision to create a dedicated platform stems from impressive growth metrics; Crypto.com has reported a staggering 40-fold increase in its prediction market business over the past six months. This surge in user engagement necessitated a separate identity to better serve its expanding audience.
“Crypto.com has established one of the most recognized brands and user-friendly app experiences within the cryptocurrency domain during a period of rapid growth and regulatory challenges,” said Kris Marszalek, Co-Founder and CEO of Crypto.com. “Now, we aim to replicate this success in the prediction market landscape with OG.”
The platform is powered by Crypto.com | Derivatives North America (CDNA), which is notable for launching the first federally licensed sports prediction contracts in December 2024.
Leading OG as CEO is Nick Lundgren, who has previously served as Crypto.com“s Chief Legal Officer. Lundgren was instrumental in the CDNA acquisition, recognized as the largest acquisition in crypto history. He emphasized the potential of prediction markets, describing them as a “deca-billion dollar industry,” with sports serving as a natural focal point for this market.
In addition to its core features, OG plans to introduce a VIP program that leverages Crypto.com“s existing partnerships in the sports sector, granting users access to exclusive experiences through venues and events such as Crypto.com Arena, UFC, Formula 1, and the UEFA Champions League.
This launch comes at a pivotal moment, as the CFTC has announced intentions to develop new regulatory frameworks for the prediction market industry. OG will primarily focus on the U.S. market from its headquarters.
