Crypto.com launches OG, a standalone sports prediction platform for US market
New app aims to build on rapid growth and regulatory lead in federally licensed sports prediction contracts
Crypto.com has launched OG, a separate product dedicated to sports prediction markets, targeting U.S. users with what it calls a best-in-class platform backed by its crypto infrastructure and regulatory experience.
The company said OG was created in response to “40x weekly growth” in its prediction market business over the past six months and will focus on becoming a leading player in a fast-growing segment.
“Crypto.com successfully built one of the largest brands and best app experiences in cryptocurrency during a period of hypergrowth amid a complex regulatory landscape, and now we will work to replicate this experience with OG in the prediction market space,” said Kris Marszalek, co-founder and chief executive of Crypto.com.
OG will be led by Nick Lundgren, who also serves as Crypto.com’s chief legal officer. Lundgren previously spearheaded the company’s entry into the regulated U.S. market for sports event contracts as president of CDNA, which Crypto.com acquired in 2022.
“Launching OG is very fitting,” said Lundgren. “We have tremendous momentum and expertise to establish OG as a market leader for consumers in this deca-billion dollar industry. 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.”
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OG will offer features, including parlays, margin trading and a social layer. It will be available via web and mobile apps, with a VIP programme leveraging Crypto.com’s sports partnerships across UFC, Formula 1, the UEFA Champions League and Crypto.com Arena in Los Angeles.
The company said OG will be backed by its security and compliance infrastructure and will offer consumer protections and exposure management tools. The platform will be headquartered in the U.S. and focused initially on the U.S. market.
The Recap
- Crypto.com launched OG, a standalone prediction market platform.
- Prediction market business grew 40x weekly over six months.
- OG will be headquartered in the U.S. and expand globally.
