Crypto.com has separated its prediction market activities, previously part of the main business, into a new app called OG. This decision comes after a significant increase in their prediction markets, positioning OG to compete with existing players like Polymarket and Kalshi.

OG operates under Crypto.com Derivatives North America (CDNA), an exchange recognized by the Commodity Futures Trading Commission. Currently, it is available solely in the United States.

Entering a lucrative industry

Kris Marszalek, co-founder and CEO of Crypto.com, has emphasized the notable rise in their prediction markets as a critical factor for creating a standalone platform:

“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.”

Nick Lundgren, the new CEO of OG and the chief legal officer at Crypto.com, described the prediction markets as a burgeoning industry worth billions. However, with new entrants like Coinbase and Hyperliquid, competition is fierce.

OG emerges at a time when prediction markets are rapidly expanding, with Wall Street investigating novel applications for event contracts beyond traditional betting on blockchain.

The market leaders, Polymarket and Kalshi, recorded substantial growth, managing $37 billion in predictions made for 2025, and raising significant venture capital during the same period.

OG aims to tap into this growth, with projections for market revenues in prediction services surging beyond $10 billion by 2030.