Crypto.com managing director of sports and prediction markets Chris Fargis has stepped down after just 12 months in the post.
Fargis joined Crypto.com from Hard Rock Digital in August 2025, where he previously served as vice-president of sportsbook strategy from 2024.
Before that role he held the position of senior director of trading risk at Fanatics, having joined the New York-headquartered operator in August 2022.
From 2021 to 2022, he was vice-president of product management at gaming software supplier Boom Entertainment, following a six-year stint at DraftKings, first as director of product management between 2014 and 2018 and later as director of operations from 2018 to 2020.
Fargis also co-founded hedge fund firm Caption Partners in 2012, spent 2009 to 2012 as an options trader for derivatives marketing company Toro. In 2007 he built his own DFS platform, Instant Fantasy Sports, which he sold to NBC in 2009.
Taking to LinkedIn to announce the news, Fargis wrote: “I’ve decided to step away from my role at Crypto.com and begin a new chapter.
“I’m grateful for the opportunity and proud of what our team accomplished – growing from zero to $300m in weekly volume over the course of a year.
“I’m exploring a few different directions and really enjoying learning about what folks in the space are cooking up.”
Crypto.com further expanded its list of prediction market partnerships last Wednesday, 8 July, when it announced a non-binding letter of intent to power Prospect Markets’ US sports event contract launch via its OG platform.
Fanatics, Underdog and High Roller have all made direct deals with Crypto.com, while FanDuel uses Crypto.com to operate FanDuel Predicts’ expanded event contracts offering.
One of the main architects of Crypto.com’s prediction market offering, Nick Lundgren, who was also CEO of OG, left the crypto exchange in May to join Underdog as chief legal officer.
Last month, the Commodity Futures Trading Commission (CFTC) made updates to US event contract regulation, restricting markets on player injuries, refereeing decisions, pre-collegiate sports and micro-bets.
In other prediction market news, Kalshi CEO Tarek Mansour is reportedly considering an IPO for his business alongside seeking a new $40bn valuation, while Meta has set it sights on developing its own prediction markets app, ‘Arena’.
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The post Crypto.com prediction markets chief exits first appeared on EGR Intel.
MD Chris Fargis departs the crypto exchange less than one year after joining, following exit of chief legal officer Nick Lundgren
The post Crypto.com prediction markets chief exits first appeared on EGR Intel.