Crypto.com has launched OG, a standalone prediction markets platform offering CFTC-regulated sports event contracts with margin trading capabilities. The move comes as multiple state regulators have initiated enforcement actions against several platforms, including Crypto.com itself, over allegations of unlicensed sports wagering. The company reports 40x weekly growth in its prediction markets business over the past six months.
Crypto.com unveiled a standalone prediction markets platform called OG just ahead of the Super Bowl. The platform offers CFTC-regulated sports event contracts and will feature margin trading through Crypto.com’s derivatives affiliate.
“We’ve experienced 40x weekly growth in our prediction market business over the last six months,” said Crypto.com CEO Kris Marszalek. This growth prompted the dedicated platform, with early sign-ups eligible for up to $500 in rewards.
Nick Lundgren, who will serve as CEO of OG while remaining Crypto.com’s Chief Legal Officer, highlighted the company’s first-mover status in the space. “Crypto.com was the first company to offer federally licensed sports prediction contracts in the United States, so launching OG is very fitting,” Lundgren stated.
The launch occurs amid regulatory pressure from state authorities. New York Attorney General Letitia James issued a consumer alert on Sunday, warning residents about risks on such platforms.
Connecticut, Tennessee, Michigan, and Illinois have issued cease-and-desist orders to Kalshi, Polymarket, Crypto.com, and Robinhood. Nevada’s Gaming Control Board also filed actions against Coinbase Financial Markets and obtained a restraining order against Polymarket.
The platforms have largely refused to comply with state orders, asserting that federal regulators hold exclusive jurisdiction. Crypto.com is currently appealing a Nevada federal district court’s denial of its request for a preliminary injunction, as noted by legal observers.
