Crypto.com has launched OG, a CFTC-regulated prediction market app.
Crypto.com incorporates prediction markets into a standalone platform built for consumers, not just traders.
With social features and planned margin trading, OG aims to redefine how sports and real-world results are traded in the US
Crypto.com is spinning off its prediction markets business into a standalone platform called OG, which will launch a few days before the Super Bowl.
The platform offers CFTC-regulated sporting event contracts, along with markets covering financial, political, cultural, and entertainment events. OG will also be the first prediction market platform to offer margin trading of prediction contracts.
The first 1 million users to sign up will receive up to $500 in rewards.
Why a standalone platform now?
The numbers speak for themselves. Crypto.com’s prediction market business has grown 40x weekly over the past six months. This kind of traction needed a home of its own.
“Crypto.com has successfully built the best app experience with one of the biggest brands in cryptocurrencies during a period of rapid growth in a complex regulatory environment. Going forward, we will work to recreate this experience with OG in the prediction markets space.” Kris Marszalek, co-founder and CEO of Crypto.com, said:
OG is powered by Crypto.com | Derivatives North America (CDNA) is the same CFTC-registered exchange and clearing house that launched the nation’s first federally sanctioned sports prediction contract in December 2024.
Nick Lundgren becomes CEO
Nick Lundgren will lead OG as CEO. He currently serves as Crypto.com’s chief legal officer and was the man behind the 2022 acquisition of CDNA, which at the time was the largest acquisition in crypto history.
“Sports is the natural center of the prediction market and we see a huge opportunity to provide fans with a comprehensive platform where being right is rewarded.” Lundgren said. he called it a prediction market “Billion dollar industry”.
VIP program leverages key sports partnerships
OG will roll out a VIP program related to Crypto.com’s existing sports transactions. This includes access to experiences through Crypto.com Arena, UFC, F1, and UEFA Champions League.
The launch lands at an interesting time. The CFTC announced last week that it would create new rules for the prediction markets industry. OG is headquartered in the US and will initially focus on the US market.
