Crypto.com Launches Sports Prediction Service in 16 US States

Crypto.com has partnered with prediction market platform Underdog to launch sports prediction markets in 16 US states, marking a major expansion of its offerings beyond crypto trading.

Users can trade contracts based on predicted sports outcomes (ranging across NFL, college football, NBA, MLB, and more) using a market-driven model instead of fixed odds. It’s a fusion of finance and fandom, where supply and demand set the price of a prediction.

This isn’t the first time Crypto.com had dabbled in sports since the company first launched its Sports Event Trading product nationwide in late 2024, under the oversight of the CFTC (Commodity Futures Trading Commission). That was one of the first federally regulated platforms of its kind.

As for Underdog, it has become the first fantasy sports operator to formally enter prediction markets. For Crypto.com, the expanded reach and Underdog’s sports infrastructure create a powerful combination.

Still, not everything was smooth for the cryptocurrency company. Earlier this year, Ohio regulators ordered Crypto.com (alongside Kalshi and Robinhood) to cease sports prediction offerings within the state over legal concerns. In some other states, the legal footing of these products remains a gray area.

Aligning with Underdog ties crypto exposure to fan engagement, potentially migrating users into Crypto.com’s exchange and DeFi products.

Users can trade contracts using fiat or any of over 400 supported cryptocurrencies, further integrating crypto with real-world use cases.

Plus, due to the earlier launch with Sports Event Trading Regulatory, Crypto.com achieved regulatory legitimacy via CFTC when it comes to sport related endeavors.

With these sport-related launches, is likely getting more people interested in crypto, since sport fans and bettors can engage with crypto-backed markets, particularly in states where conventional sportsbooks are not yet licensed.

Outside of sports, Crypto.com recently has joined forces with Trump Media & Technology Group to form Trump Media Group CRO Strategy, a digital asset treasury firm valued at $6.4 billion. Also, in June, Crypto.com secured a MiCA license in the EU and expanded services in North America and Canada through institutional trading and dealer approvals.