Crypto.com launched a sports predictions marketplace in the US on Monday amid rising gambling on real-world events among digital asset holders.

The offering will serve a growing group of cryptocurrency traders who want to bet on the outcomes of real-world events, increasing Crypto.com's popularity with U.S. sports fans, said company spokesman Matt David. Decryption.

“Sports has been an important part of our brand, from F1 to UFC to Crypto.com Arena, and this is a great opportunity to engage sports fans with the Crypto.com app,” David said.

Crypto.com's sports platform begins with the Super Bowl, advertised as "The Big Game" on the site, where users can bet on an NFL team still in the hunt for the season's final playoff spot.

He added that Crypto.com customers in the US can bet on sporting events using any digital asset supported by the trading platform, including the exchange's native Cronos token.

The debut of the sports betting offering coincides with the launch of Crypto.com American Trust Companywhich provides custody services to clients in the United States and Canada.

Prediction markets are rising

Digital asset holders have increasingly flocked to prediction markets like Polymarket and Kalshi to bet on real-world events in recent months, especially after the US election sparked speculative fervor among traders.

US-based trading platform Kalshi generated $132 million in betting volume on the US presidential election alone, and received a huge boost in deposits after... Launching support for USDC last month.

Meanwhile, Polymarket, which is not available to US traders, hit a... Record trading volume of $3.6 billion Related to the 2024 US elections.

But sports betting is not particularly popular on Kalshi or other trading platforms in the US that accept cryptocurrencies. This gives Crypto.com an opportunity to serve cryptocurrency holders who enjoy gambling on sports.

Sports betting in the United States is a huge and growing market. In 2024, U.S. sports betting revenue will reach $14.30 billion, up from $0.48 billion in 2018, according to statesman Data Published in May.

Crypto.com has gained traction with US sports fans due to its significant investments in US sports partnerships. Company He reportedly paid $700 million in 2021 to secure the naming rights to the NBA Lakers' home arena in Los Angeles.

More broadly, the exchange has led most of its competitors to sign sports-related sponsorship contracts. The trading platform, along with the now-shuttered FTX, accounted for 35.9% of all athletics sponsorships signed between 2021 and 2024, CoinGecko reported. Data He appears.

Modified by Andrew Hayward