Global cryptocurrency exchange and trading services company Crypto.com will launch a standalone prediction markets platform days before the Super Bowl, expanding its push into federally regulated event-based contracts, according to Bloomberg. The company said the new product, branded OG, was created in response to rapid growth in its predictions business.
Crypto.com Co-Founder and CCEO Kris Marszalek said activity on event contracts had increased 40-fold on a week-over-week basis over the past six months, prompting the need for a dedicated platform.
OG was structured as a predictions-only exchange, separating event contracts from Crypto.com’s broader trading services.
Nick Lundgren, OG CEO, said the platform would also allow leveraged and margin trading on prediction contracts.
