- Crypto.com launches OG to increase US entry to CFTC-regulated sports activities and event-based prediction markets.
- OG combines occasion contract buying and selling and social performance, positioning sports activities as a core entry level.
- The platform plans so as to add margin-based forecasting contracts primarily based on present US derivatives laws.
Crypto.com has launched OG, a standalone prediction market platform designed to supply US customers with entry to regulated event-based contracts throughout sports activities and different classes.
In response to the report, OG will function as a consumer-facing platform that permits customers to commerce the outcomes of real-world occasions. These embrace main U.S. sporting tournaments such because the Tremendous Bowl and March Insanity, in addition to choose monetary, political, cultural, and leisure occasions. In response to the corporate, OG aggregates market-based chances to create forecasts which might be constantly up to date to replicate real-time market sentiment.
OG platform and market construction
OG is powered by Crypto.com | Derivatives North America (CDNA) is a U.S.-based trade and clearing home registered with the Commodity Futures Buying and selling Fee. The platform gives entry to CFTC-regulated sporting occasion contracts and extra event-based markets.
Customers can commerce contracts straight inside the OG app, whereas additionally interacting with different contributors via social options that permit for interactions, discussions, and leaderboard rankings. The platform is structured to mix buying and selling performance with neighborhood engagement, positioning the sports activities market as the first entry level for customers.
Crypto.com stated the primary 1 million OG customers will probably be eligible to obtain as much as $500 in rewards, however particular distribution phrases weren’t detailed.
Plan to increase into credit score buying and selling
OG plans to introduce margin-based forecasting contracts via Crypto.com’s federally licensed futures dealer. As soon as carried out, the service will permit eligible customers to commerce prediction contracts utilizing margin, a function the corporate says has not been beforehand accessible on prediction market platforms.
The margin settlement will probably be delivered via CDNA’s present regulatory framework and expands the vary of merchandise accessible on OG whereas remaining inside the scope of US derivatives guidelines.
Management and concentrate on the US market
Crypto.com has appointed Nick Lundgren as CEO of OG. Lundgren additionally serves as Crypto.com’s chief authorized officer and beforehand served as president of CDNA, the place he led the corporate’s launch of CFTC-regulated sporting occasion contracts in December 2024. He was additionally concerned in Crypto.com’s acquisition of CDNA in 2022.
OG is headquartered within the US and can initially concentrate on the US market. The corporate stated it plans to pursue worldwide growth at a later stage.
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