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Crypto.com is entering the sports prediction market with their recently introduced “Sports Event Trading.” Users can purchase contracts based on the expected results of significant events, like the Super Bowl, on this cutting-edge platform, which is the first regulated sports outcome market in all 50 U.S. states.
In this new market, Crypto.com customers can purchase prediction contracts using U.S. dollars or over 350 types of cryptocurrency. These contracts operate similarly to futures market wagers at traditional sportsbooks. However, Crypto.com makes it clear that this market is a derivatives product regulated by the Commodities Futures Trading Commission (CFTC), and the platform has stated that it is “not endorsed” by any professional football league or team.
The platform’s trading interface allows users to place predictions on the outcome of the Super Bowl, for example. A customer could purchase a “Yes” contract at $29.75, betting that Kansas City will win the Super Bowl. If they are correct, they would receive $100. Alternatively, if they believe Kansas City won’t repeat as champions, they can opt for a “No” contract at $78.25, with the same payout for correct predictions.
Crypto.com’s prediction market includes odds for 18 NFL teams. The Kansas City Chiefs lead the field, with a 30% chance of winning, according to the platform. Other teams in the mix include the Detroit Lions (27%), Buffalo Bills (26%), and Philadelphia Eagles (17%). Even teams like the Green Bay Packers and Los Angeles Chargers are listed, with lower chances of claiming the championship.
Although analogous platforms like Kalshi, which had to take legal action to accept bets on events like the 2024 Election Day, are mirrored in this new sports wagering model, Crypto.com’s activity is already generating headlines. The website reports that during Kalshi’s election-related offering, its market generated approximately $400 million in contracts.
Because users can modify their predictions until the start of the event, Crypto.com’s Sports Event Trading also provides flexibility. Payouts are made within one business day after the result is determined, providing a smooth betting experience.