Crypto.com has launched its own sports-focused prediction markets platform, OG, which the Singapore-based business said would also be the first platform to offer margin trading.
The firm confirmed OG would be based out of and initially target the US, run on its own app and contain the “engagement features of a social media network”.
It noted there were plans to expand internationally – akin to claims made by Kalshi last year.
OG users will have access to a range of event contracts across sports, finance, politics, culture and entertainment. Parlays will also be made available.
The OG site, which is live, also states: “No user limits: Sharps, VIPs, analytical thinkers are all encouraged and winners won’t be banned.”
Crypto.com added that the first one million users to sign up with OG would receive up to $500 in rewards.
Powered by Crypto.com | Derivatives North America (CDNA), OG players will also be able to engage with margin trading, marking a first for prediction markets, according to Crypto.com.
Margin trading remains subject to certification from the Commodity Futures Trading Commission (CFTC).
Crypto.com chief legal officer Nick Lundgren will lead OG as CEO, having led the vanguard of the exchange’s expansion into prediction markets with the launch of sports event contracts in December 2024.
Lundgren also fronted Crypto.com’s acquisition of CDNA in 2022.
The launch of OG comes after Crypto.com secured several partnerships to facilitate the launch of sports event contracts with online sports betting operators.
Fanatics and High Roller Technologies have tapped the business for their respective products, while Underdog has ditched its sports betting aspirations and tapped Crypto.com for prediction markets tech.
Kris Marszalek, Crypto.com CEO, said: “Crypto.com successfully built one of the largest brands and best app experiences in cryptocurrency during a period of hyper-growth amid a complex regulatory landscape, and now we will work to replicate this experience with OG in the prediction market space.
“We’ve experienced 40x weekly growth in our prediction market business over the last six months. This type of growth warrants a concerted effort with a standalone platform.
“Our goal is to establish OG as the premier sports prediction market technology with the best customer experience.”
Lundgren added: “Crypto.com was the first company to offer federally licensed sports prediction contracts in the US, so launching OG is very fitting.
“We have tremendous momentum and expertise to establish OG as a market leader for consumers in this deca-billion dollar industry and have had excellent success with our prediction markets partners.
“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.
“I am thrilled to be leading OG and establishing this new era of prediction markets that will include parlays, margin trading and a dynamic social layer.”
In other prediction markets news, trading platform Plus500 announced it would launch an offering to its US customers in partnership with Kalshi, with the news sending its stock spiking.
Elsewhere, DeFi exchange Hyperliquid and TradFi exchange Cboe are set to launch prediction markets offerings in the coming months too.
The post Crypto.com launches sports-focused prediction market with margin trading first appeared on EGR Intel.
CEO Kris Marszalek says event contracts arm has seen “40x weekly growth” over the past six months, with new OG platform set to go live in the US
The post Crypto.com launches sports-focused prediction market with margin trading first appeared on EGR Intel.