A new force is entering the world of sports prediction, born from the powerhouse behind Crypto.com. The company is launching OG, a dedicated platform designed to redefine how people forecast and engage with sporting events.
The vision, according to its founder, isn’t simply to offer another prediction market, but to build the definitive experience in the space. Recent internal growth – a staggering 40x increase in weekly users over the last six months – signaled the need for a focused, standalone platform to capitalize on the surging interest.
OG aims to cut through the noise with clarity, aggregating the collective wisdom of the crowd into easily understood, constantly updated forecasts. Users won’t just be placing predictions; they’ll gain insight into what the broader market *believes* will happen, fostering a more informed and dynamic experience.
The platform is poised to break new ground by potentially becoming the first to offer margin trading within a prediction market. This access will be facilitated through Crypto.com | Derivatives North America, leveraging its federally licensed futures commission merchant status.
Leading this new venture is Nick Lundgren, appointed CEO of OG while also serving as Chief Legal Officer at Crypto.com. He previously spearheaded the company’s entry into CFTC-regulated sports event contracts, bringing valuable experience to the table.
However, the launch isn’t without its complexities. Crypto.com recently withdrew its prediction markets and sports contracts from nine states, responding to increasing scrutiny from regulators who question whether these platforms blur the line with traditional, unlicensed sports betting.
Critics contend that prediction markets, despite their unique mechanics, function similarly to sportsbooks, raising concerns about consumer protection and regulatory compliance. The future of OG will likely hinge on navigating this evolving legal landscape.
Despite the challenges, the ambition behind OG is clear: to create a transparent, engaging, and technologically advanced platform that reshapes the way people interact with the thrill of sports prediction.
