Add on GoogleAdd Decrypt as your most popular supply to see extra of our tales on Google.
In short
- Crypto.com has launched OG, a standalone prediction markets platform providing CFTC-regulated sports activities occasion contracts and margin buying and selling capabilities.
- Nick Lundgren, Crypto.com's Chief Authorized Officer, will function CEO of OG whereas the corporate reviews 40x weekly progress in prediction markets over six months.
- A number of states have begun enforcement actions in opposition to Kalshi, Polymarket, Crypto.com, and Robinhood over unlicensed sports activities wagering allegations.
Crypto.com unveiled a standalone prediction markets platform on Tuesday forward of the Tremendous Bowl, whereas the alternate and different prediction platforms confront authorized actions from state regulators concentrating on competing event-contract choices.
The platform, known as OG, will provide CFTC-regulated sports activities occasion contracts alongside monetary, political, cultural, and leisure markets by Crypto.com's derivatives affiliate, Crypto.com | Derivatives North America (CDNA), in line with an announcement launched Tuesday.
We’re excited to formally unveil the brand new period of prediction markets for sports activities followers with the launch of OG! Make your name now at https://t.co/X9D1s2StPQ.
Learn extra right here: https://t.co/a2FrohML3B pic.twitter.com/6suaOYy1yL
— Crypto.com (@cryptocom) February 3, 2026
“We’ve skilled 40x weekly progress in our prediction market enterprise during the last six months,” Kris Marszalek, Co-Founder and CEO of Crypto.com, mentioned within the assertion. “Any such progress warrants a concerted effort with a standalone platform.”
OG is providing rewards to early customers, with the primary a million individuals who join eligible for as much as $500 in rewards.
First-mover benefit
Nick Lundgren, named CEO of OG whereas sustaining his function as Crypto.com's Chief Authorized Officer, identified the corporate's first-mover benefit in federally regulated sports activities prediction contracts.
"Crypto.com was the primary firm to supply federally licensed sports activities prediction contracts in the US, so launching OG could be very becoming," Lundgren mentioned within the assertion. "Now we have large momentum and experience to determine OG as a market chief for customers on this deca-billion greenback trade."
The platform plans to introduce margin buying and selling capabilities by CDNA's futures fee service provider license, which might make it the primary prediction markets platform to supply such options.
OG may also launch a VIP program leveraging Crypto.com's partnerships with Crypto.com Enviornment, UFC, System 1, and UEFA Champions League.
State enforcement
The platform is eyeing the sector's progress potential regardless of rising enforcement actions from state gaming regulators who declare unique authority over sports activities wagering operations.
Connecticut, Tennessee, Michigan, and Illinois have all issued cease-and-desist orders to Kalshi, Polymarket, Crypto.com, and Robinhood, alleging they function unlicensed sports activities betting operations.
In Nevada, the Gaming Management Board filed a civil enforcement motion in opposition to Coinbase Monetary Markets searching for to dam its occasion contracts, a state courtroom issued a short lived restraining order in opposition to Polymarket, and regulators had already begun related motion in opposition to Kalshi beginning in March final 12 months.
The platforms have largely refused to conform, insisting that federal regulators maintain unique jurisdiction.
New York Legal professional Common Letitia James issued a shopper alert on Sunday, warning residents of dangers posed by prediction markets, describing the platforms as providing bets masquerading as occasion contracts with out shopper protections or supervision from the New York Gaming Fee.
At present, Crypto.com is interesting a Nevada federal district courtroom's denial of its preliminary injunction request, which sought to dam the area from imposing state legal guidelines in opposition to its sports activities occasion contracts.
