Crypto.com has officially launched a new standalone prediction market app named OG. The announcement, made through a press release, highlights OG as a fresh prediction market experience designed to allow users to trade, connect with others, and rise in the rankings. The app combines features reminiscent of consumer applications, social media engagement, and the reliability of an institutional-grade platform. This new initiative provides sports enthusiasts with access to a thorough range of CFTC-regulated sports event contracts, alongside additional contracts spanning financial, political, cultural, and entertainment domains.
Previously, Crypto.com has provided prediction markets integrated into its native app and through collaborations with partners like Underdog. OG is accessible on both the App Store and Google Play, and users can also navigate the platform via a web interface. However, details on its availability remain ambiguous; it is noted in the app’s help section that “OG is currently available only in certain locations due to regulatory requirements,” currently restricting access to U.S. citizens only.
Among the notable features of the app is the capability for margin trading, allowing users to trade beyond their deposited amount. This aspect will be facilitated through Crypto.com’s federally licensed futures commission merchant, marking OG as the first platform to offer margin trading in prediction markets. While there will be contracts for non-sports events, the primary focus will be on sports-related contracts in the initial phase.
To incentivize early adoption, OG will reward the first one million users who sign up with $500. The platform will also introduce a VIP program that taps into Crypto.com’s extensive sports and entertainment partnerships. This includes collaborations with high-profile names like the iconic Crypto.com Arena, UFC, Formula 1, and UEFA Champions League, promising unique experiences for users.
The launch emphasizes consumer protection, equipping users with tools and resources necessary for responsible trading. Additionally, the platform fosters a community atmosphere by allowing sports fans and traders to connect, share insights, and celebrate their successes together.
Kris Marszalek, Co-Founder and CEO of Crypto.com, expressed optimism about the new venture, stating, “Crypto.com has 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.” He highlighted the significant growth of their prediction market business, which experienced a 40-fold increase in weekly activity over the last six months, acknowledging the need for a dedicated platform.
In conjunction with the launch, Nick Lundgren has been appointed as CEO of OG. Lundgren, who is also the Chief Legal Officer at Crypto.com, played a pivotal role in the company’s entry into the market with the first CFTC-regulated sports event contracts in December 2024. He remarked on the company’s historical significance, noting, “Crypto.com was the first company to offer federally licensed sports prediction contracts in the United States, so launching OG is very fitting.” Lundgren emphasized the potential for OG to capture a significant portion of the lucrative prediction market industry, highlighting the natural connection between sports and prediction markets.
The launch of OG comes at a time when the sector is witnessing increased interest and new entrants, including firms like Cboe and Hyperliquid.
