Crypto.com has launched OG, a standalone prediction market platform designed specifically for the US market. The move marks a strategic effort by the company to separate its event-based trading business as regulators continue to debate whether prediction markets should be treated as financial instruments or gambling products.
According to the official announcement, OG will operate through Crypto.com Derivatives North America, a clearinghouse and designated contract market registered with the Commodity Futures Trading Commission. At launch, the service is available only in the United States, where Crypto.com says it plans to focus its initial rollout.
OG offers a mix of trading tools and consumer-focused features. Users can trade CFTC-regulated event contracts linked to sports, finance, politics, culture, and entertainment. The platform also includes social engagement tools and a public leaderboard, aimed at making participation more interactive and competitive.
Crypto.com said it plans to expand OG’s functionality further. Future updates are expected to include margin trading for prediction contracts, subject to regulatory approval through the company’s federally licensed futures commission merchant.
The decision to spin out OG follows rapid growth in Crypto.com’s prediction market activity. Co-founder and CEO Kris Marszalek said the firm saw nearly 40x weekly growth in this segment over the past 6 months. Crypto.com first introduced event-based trading in December 2024.
The launch comes at a time when prediction markets are expanding quickly. According to International Banker, monthly trading volumes in prediction markets grew from less than $100 million at the start of 2024 to more than $13 billion by the end of 2025. Citizens Financial Group estimates that industry revenue could reach $10 billion by 2030.
Crypto.com is entering an increasingly crowded space. Coinbase recently rolled out its own prediction market offering in partnership with Kalshi. Crypto exchange Bitnomial has also received limited regulatory approval to offer similar products. Meanwhile, on-chain platform Hyperliquid is testing its Outcome Trading feature, which it describes as a fully collateralized alternative to perpetual futures.
Despite growing interest, legal uncertainty remains a major challenge for the sector. Several US states have pushed back against prediction market platforms, even those operating under federal oversight. Connecticut, Massachusetts, Nevada, and Tennessee have issued cease-and-desist orders or filed lawsuits against platforms such as Kalshi, Polymarket, Robinhood, Coinbase, and now Crypto.com, citing violations of state gambling laws.
Earlier this week, the Nevada Gaming Control Board sued Coinbase in state court, seeking to block its event-based trading products for allegedly operating without a license. Polymarket faced a similar injunction in January. Connecticut regulators have also taken action against Crypto.com over its earlier sports prediction offerings, calling them unlicensed online gambling.
At the core of the dispute is how prediction markets should be classified. While platforms like Kalshi and OG operate under CFTC oversight, several states argue that contracts tied to sports or elections fall under local gambling regulations. This has created a fragmented regulatory landscape where the same product may be considered a lawful derivative in one state and an illegal wager in another.
Some companies have begun pushing back. Coinbase is currently suing multiple states, arguing that state-level enforcement undermines federal authority and violates the Commodity Exchange Act’s preemption framework. As regulators and platforms continue to clash, the legal status of prediction markets in the US remains unresolved.