Crypto.com Launches Independent Prediction Markets Platform OG

OG will be powered by CDNA, a CFTC-registered clearinghouse affiliate of Crypto.com, with contracts in sports, entertainment, finance, and more.

Key Points

• Crypto.com Chief Legal Officer Nick Lundgren was appointed OG CEO during the platform launch. Lundgren previously served as President of Derivatives North America, known as CDNA.
• OG will provide access to CDNA margin prediction contracts through a federally licensed futures commission merchant.

Crypto.com launched an independent prediction markets platform named OG, offering event contracts registered under the Commodity Futures Trading Commission and a $500 rewards offer for the first one million users. Crypto.com Co-Founder and CEO Kris Marszalek said the company built a major cryptocurrency brand during rapid growth under regulatory complexity.

Crypto.com Bets Big on Prediction Markets With Launch of OG Platform

He stated the business now plans to replicate that experience within prediction markets using the OG platform. Marszalek said the prediction markets segment recorded 40x weekly growth over the past six months. This level of growth supported the decision to launch a standalone platform. He added that the goal involves positioning OG as a sports prediction market technology platform delivering a strong customer experience. OG will operate using infrastructure from Crypto.com and Derivatives North America, also known as CDNA.

CDNA functions as a CFTC-registered exchange and clearinghouse affiliated with Crypto.com. The platform will include event contracts covering sports, entertainment, finance, politics, culture, and entertainment. OG will also offer access to CDNA margin prediction contracts through Crypto.com’s federally licensed futures commission merchant.

Crypto.com Launches OG, the First Prediction Markets Platform With Margin Trading

This structure represents the first prediction markets platform to offer margin trading. Crypto.com confirmed Chief Legal Officer Nick Lundgren was appointed OG CEO during the launch. Lundgren said Crypto.com first offered federally licensed sports prediction contracts in the United States. He stated that launching OG fits naturally with that regulatory background. Lundgren said the company holds momentum and experience within the prediction markets sector. He referenced opportunities within a deca-billion dollar industry. Sports represent the central hub of prediction markets activity.

OG aims to provide an integrated platform rewarding correct outcomes. He added that the platform will include parlays, margin trading, and a social layer. Crypto.com confirmed that OG will be headquartered in the United States. Initial operations will focus on the US market. The company also plans global expansion in the near future.