The feature, first introduced in 2024, will now function as a dedicated platform competing with Polymarket and Kalshi.
The new app runs on Crypto.com Derivatives North America, which is registered with the Commodity Futures Trading Commission as both an exchange and a clearinghouse. CDNA is part of Crypto.com, which gives OG a regulated foundation on which to operate.
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At the moment, OG is limited to users in the United States. The company has not announced when or if it will expand access to other regions.
Kris Marszalek, co-founder and CEO of Crypto.com, said that the growing interest in prediction markets motivated the launch of a separate platform. In December 2024, the company had already introduced a “sports event trading” feature for American users.
According to Marszalek, the firm has seen strong traction in the last half-year. He explained:
We’ve experienced 40x weekly growth in our prediction market business over the last six months. This type of growth warrants a concerted effort with a standalone platform.
The new venture will be led by Nick Lundgren, who previously served as Crypto.com’s chief legal officer. Lundgren referred to prediction markets as a “deca-billion dollar industry”.
On January 14, Backpack, a cryptocurrency exchange, launched a private beta of its new platform, the Unified Prediction Portfolio. How does it work? Read the full story.
