- crypto.com launches sports prediction market in the United States, starting with Super Bowl wagering.
- Platform allows betting with various digital assets including Cronos token.
- US sports betting revenue reached $14.30 billion in 2024, up from $0.48 billion in 2018.
- Prediction platforms Kalshi and Polymarket saw significant election-related trading volumes.
- Crypto.com holds 35.9% market share of crypto-sports sponsorships from 2021-2024.
Crypto.com expanded into the U.S. sports prediction market Monday, capitalizing on rising demand for cryptocurrency-based event wagering. The move coincides with the platform’s new custody trust service launch for North American clients.
Market Opportunity and Growth
The platform’s entry into sports prediction arrives amid substantial growth in U.S. sports betting. According to Statista, revenue surged from $0.48 billion in 2018 to $14.30 billion in 2024, representing remarkable sector expansion.
Crypto.com’s offering differentiates itself by accepting various digital assets for wagering, including its native Cronos token. The platform begins with Super Bowl predictions, targeting NFL playoff enthusiasts.
Recent data shows strong appetite for crypto-based prediction markets:
- Kalshi: $132 million in U.S. presidential election betting volume after implementing USDC support
- Polymarket: $3.6 billion in election-related trading (excluding U.S. traders)
Strategic Sports Positioning
Crypto.com has established significant sports presence through strategic partnerships. The company’s U.S. trust company launch strengthens its market position, while its sports investments include:
- $700 million investment for NBA Lakers’ arena naming rights
- Partnerships with Formula 1 and UFC
- 35.9% share of crypto-sports sponsorships (2021-2024), according to CoinGecko data
_”Sports have been an important part of our brand, from F1 to UFC to the Crypto.com Arena, and this is a great opportunity to engage those sports fans on the Crypto.com app,”_ stated Matt David, company spokesperson.
The platform’s expansion into sports prediction markets represents a strategic move to capitalize on both cryptocurrency adoption and the growing U.S. sports betting industry, while leveraging its established sports partnerships and brand recognition.
✅ Follow BITNEWSBOT on Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Bitcoin ETFs See Record $672 Million Exodus After Fed’s Hawkish Rate Cut
- Interpol Issues Red Notice for Hex Founder Richard Heart Over Tax, Assault Claims
- Crypto Fund Flows Plunge 90% as Powell’s Hawkish Tone Triggers $1B Exodus
- TikTok Gaming Sensation SonicX to Roll Out Token Airdrop on Solana, Eyes 2M Users
- MicroStrategy Adds $561 Million in Bitcoin as Stock Joins Nasdaq-100 Index
