Crypto.com has officially launched a standalone prediction market platform called OG, spinning off its rapidly growing prediction market business just days before the Super Bowl. The new platform will offer CFTC-regulated contracts for sports, financial, political, cultural, and entertainment events, and will be the first prediction market platform to offer margin trading on prediction contracts.
The launch is driven by explosive growth, with Crypto.com reporting a 40x weekly increase in its prediction market business over the past six months. "This type of growth warrants a concerted effort with a standalone platform," said Kris Marszalek, Co-Founder and CEO of Crypto.com. The company aims to replicate its success in the cryptocurrency app space within the prediction market industry.
OG is powered by Crypto.com | Derivatives North America (CDNA), a CFTC-registered exchange and clearinghouse affiliate that launched the nation's first federally licensed sports prediction contracts in December 2024. The platform will be headquartered in the U.S. and initially focused on that market, with plans for global expansion.
Nick Lundgren, Crypto.com's Chief Legal Officer and the executive who led the CDNA acquisition in 2022, has been named CEO of OG. Lundgren called prediction markets a "deca-billion dollar industry" and stated, "Sports are the natural hub of prediction markets, and we see a massive opportunity to provide fans with an all-encompassing platform where it pays to be right."
To attract users, OG is offering up to $500 in rewards for the first one million users who sign up. The platform will also feature a VIP program tied to Crypto.com's existing major sports partnerships, providing access to experiences through Crypto.com Arena, UFC, Formula 1, and the UEFA Champions League.
The launch comes at a pivotal regulatory moment, as the CFTC announced last week it would craft new rules for the prediction market industry. OG emphasizes its commitment to compliance, backed by Crypto.com's security and regulatory infrastructure.
