Crypto.com Pioneers Regulated Sports Event Trading on Blockchain

Key features

Compliance First Approach:

The new market operates under CFTC regulation and offers rigorous adherence to state and federal laws.

User-Centric Design:

The platform promises to continuously deliver an intuitive interface for both veterans and newcomers.

Real-Time Insights:

Users will have access to analytics tools for data-driven predictions and strategies.

New Place for Sports Event Trading

Marking the beginning of a new era, Crypto.com offers users the chance to win a share of $1 million, paid out in Cronos Crypto Basket tokens, upon signing up and completing their first sports trade. The Sports Event Trading market will be available on its app and web platforms. Initially, it will be limited to U.S.-based customers, but the company plans to extend access to other regions soon.

The launch strengthens the platform’s extensive sports involvement, including its role in FIFA World Cup 2022 and Formula 1. The sports influence also extends to high-profile partnerships, such as with the Los Angeles Lakers and the naming rights to the Staples Center, now known as Crypto.com Arena.

During the launch, the platform’s CEO Kris Marszalek stated:

This is not just a product launch; it’s a game-changer for how fans interact with sports.
We’re bridging the gap between crypto and mainstream sports enthusiasts with a safe and innovative approach.

Thanks to such innovative practices, this platform has overtaken Coinbase to become the dominant cryptocurrency exchange in North America, driven by a significant increase in trading volumes and an expanded selection of tokens.

With this new market, you can bet on everything from who will win the game to individual player performances – and even specific plays. It’s similar to Polymarket platforms, which took off in decentralized finance thanks to their fresh approach to predictions.

• Polymarket, unavailable in the U.S., saw over $3 billion in wagers during the 2024 U.S. presidential election.
• Bloomberg forecasts the global sports betting market will surpass $180 billion by 2025.
• The crypto betting market has grown by 25% annually, indicating the strong connection between blockchain technology and sports trading.

From July to September 2024, trading volume soared from $34 billion to $134 billion, representing 73% of the region’s total crypto trading volume of $183 billion that month.

Image Source: https://crypto.com/en/company-news

The Road Ahead

With plans to expand into international markets and integrate AI-driven analytics, Crypto.com is laying the groundwork for long-term growth. Its roadmap hints at features like multi-sport integration, tokenized rewards, and partnerships with major leagues worldwide.

While challenges like regulatory scrutiny and market volatility remain, its early adoption of compliance frameworks gives it a competitive edge.