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Crypto.com Expands Sports Prediction Market Service

Robert Linnehan

By Robert Linnehan in Sports Betting News

Published:


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  • Crypto.com has expanded its sports event prediction services
  • When the service debuted users could purchase “contracts” for teams to either win or lose the Super Bowl
  • Now users can also predict if teams will win or lose the NFL conference championships, college bowl games, and college national championship

Just two weeks after Crypto.com announced its new sports prediction market service, the cryptocurrency trading platform is already expanding its markets.

Crypto.com announced today on the social media platform X that its users will be able to buy contracts to predict the outcomes of several additional major U.S. sporting events. When the service debuted in late December, it only featured contracts on the outcome of the Super Bowl.

The platform launched the first ever sports event trading product in the country two weeks ago, currently available in all 50 states, allowing U.S. users of Crypto.com and its app the ability to participate and trade their own prediction on the outcome of sports events.

Expanded Offerings Just Two Weeks In

Crypto.com announced today that users will be able to buy “contracts” to determine if teams will win or lose the NFL conference championship, certain college bowl games, and the college football national championship.

The service is similar to other event contracts on cryptocurrency offered by the company, part of its derivative offerings, which is a Commodity Futures Trading Commission (CFTC)-regulated exchange.

Sports betting is regulated by state gaming regulators and commissions.

The service allows users to purchase “contracts” for various prices. For example, a current contract on the Kansas City Chiefs to win the Super Bowl is trading for $32.75. Each contract that has a correct outcome returns $100, according to the company.

Because the service is regulated by the CFTC, Crypto.com can offer the contracts immediately to users through every state in the country. The service is not beholden to the sports betting tax rates that operators have to pay in each market they’re licensed, but it is subjected to certain requirements by the CFTC to ensure a regulated market for its traders.

What’s Next?

So what’s next for Crytpo.com? Two weeks into the service and the company is already offering contracts on several more high profile sports events, so it’s easy to see that this is just the beginning of their services.

After the Super Bowl, you can expect Crypto.com to likely offer contracts on the March Madness basketball tournaments, such as offering predictions on the sweet 16, final four, and eventual champion.

Robert Linnehan
Robert Linnehan

Regulatory Writer and Editor

Rob covers all regulatory developments in online gambling. He specializes in US sports betting news along with casino regulation news as one of the most trusted sources in the country.

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