Crypto.com Launches Prediction Market App Called OG

The new app will offer margin trading and a VIP program tied to Crypto.com's sports partnerships, with $500 in rewards for the first million users.

Crypto.com rolled out a new standalone prediction market app called OG on Tuesday.

From a press release on the launch:

OG, a new prediction market experience, today announced its official launch, introducing a new way for consumers to trade, engage with others, and climb the leaderboard. Combining the accessibility of a consumer app, engagement features of a social media network, and the rigor of an institutional-grade platform, OG provides sports fans access to a most comprehensive range of CFTC-regulated sports event contracts as well as additional event contracts across financial, political, cultural, and entertainment events.

The cryptocurrency exchange has previously offered prediction markets on its native app and through partnerships with companies like Underdog.

What we know about OG so far:

• The platform is available on the App Store and Google Play, as well as via a web platform.

• It wasn’t immediately clear if OG is available in every state. An entry in its help section notes “OG is currently available only in certain locations due to regulatory requirements.” It is only available to US citizens, currently.

  

• You will be able to trade on margin, meaning you can trade more than you deposit: “OG also plans to provide access to CDNA’s margin prediction contracts offering through Crypto.com’s federally licensed futures commission merchant. This will be the first prediction markets platform to offer margin trading.”

• While you can trade on non-sports events, most of the focus appears to be on sports event contracts at the start.

• The first one million users to sign up will get $500 in rewards.

• OG will offer a VIP program “leveraging Crypto.com’s robust sports and entertainment partnership portfolio to create signature experiences, including with the iconic Crypto.com Arena, UFC, Formula 1, UEFA Champions League, and more.”

• The app will “offer consumer protections and equip customers with tools and resources to help manage exposure and trade responsibly.”

• According to the release, there are social aspects to the platform: “Sport fans and consumers also have the ability to connect with other traders, share their opinions, and celebrate their triumphs.”

From the release:

“Crypto.com successfully built one of the largest brands and best app experiences in cryptocurrency during a period of hypergrowth amid a complex regulatory landscape, and now we will work to replicate this experience with OG in the prediction market space,” said Kris Marszalek, Co-Founder and CEO of Crypto.com. “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. Our goal is to establish OG as the premier sports prediction market technology with the best customer experience.”

As part of the launch of OG, Nick Lundgren has been named CEO of OG. Nick also serves as Chief Legal Officer of Crypto.com, where he led the company’s entrance with the nation’s first CFTC-regulated sports event contracts in December 2024 as President of CDNA. …

“Crypto.com was the first company to offer federally licensed sports prediction contracts in the United States, so launching OG is very fitting,” said Nick Lundgren, CEO of OG. “We have tremendous momentum and expertise to establish OG as a market leader for consumers in this deca-billion dollar industry and have had excellent success with our prediction markets partners. Sports are the natural hub of prediction markets, and we see a massive opportunity to provide fans with an all-encompassing platform where it pays to be right. I am thrilled to be leading OG and establishing this new era of prediction markets that will include parlays, margin trading, and a dynamic social layer.”

The news comes amid a flurry of new entrants into the space, including Cboe and Hyperliquid.