Crypto.com Launches Sports Prediction Market Ahead Of Super Bowl LIX

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Julia Smith

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Julia Smith

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Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News.

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crypto.com, sports betting, kris marszalek

Crypto platform Crypto.com is stepping into the world of sports U.S. betting just in time for the Super Bowl LIX amid growing interest in the activity stateside, CEO Kris Marszalek announced in a December 23 statement.

According to the Monday press release, the latest update will allow U.S. customers of the Singapore-based crypto exchange “to participate and trade their own prediction on the outcome of sports events” on the company’s website and app.

“Sports Events Trading offers an entirely new platform for U.S. users to engage nationwide at Crypto.com and in the Crypto.com app,” said Kris Marszalek.

“This unique financial product allows users to trade their prediction on the outcome of a sports event,” he added. “It’s a fundamentally new concept for sports, and we’re thrilled to be the first regulated platform in the U.S. to offer it to our users.”

News of the crypto company’s most recent expansion comes less than a week after Marszalek met with President-elect Donald Trump at his Mar-a-Lago estate ahead of his inauguration on January 20.

The duo reportedly discussed the potential of generating a federal bitcoin stockpile and creating a crypto-friendly regulatory framework when the former reality television star returns to the Oval Office.

Shortly following the meeting, Crypto.com announced that it would drop a lawsuit filed in October against the United States Securities and Exchange Commission (SEC) that accused the government agency of regulatory overreach.

The crypto exchange has previously received a Wells notice from the SEC indicating its intent to execute an enforcement action against the Marszalek-run organization; however, it appears that this action may not come to fruition under Trump’s upcoming term.

“We look forward to working with the new administration to develop and advance clear regulations for the crypto industry so the U.S. can become a global leader in digital assets and innovation,” a spokesperson for the company told Bloomberg.

Trump pledged during his time on the campaign to enact crypto-friendly regulations should he return to the White House.

The New York-born businessman has since selected former SEC commissioner and consulting firm head Paul Atkins to replace current SEC chair Gary Gensler.

With clients in the crypto sector, Atkins is widely considered a crypto-friendly approach to Gensler’s regulation-by-enforcement approach to digital assets.

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