Crypto.com has launched a groundbreaking sports event trading platform, allowing users nationwide to trade predictions on sports event outcomes, including the Super Bowl, through their app and website.

The platform, operated by Crypto.com | Derivatives North America and regulated by the CFTC, enables users to convert over 350 cryptocurrencies to bitcoin or US dollars for purchasing sports event trading contracts. Winning bets are paid out in dollars.

This sports event trading system operates on implied probabilities rather than traditional American odds. For example, current Super Bowl contracts show the Detroit Lions and Kansas City Chiefs each with 22% implied probability of winning, with "yes" contracts priced at $22.25 and $21.75 respectively.

Unlike traditional sportsbooks, the platform allows contract prices to fluctuate like standard derivatives, enabling users to adjust or hedge their positions as prices change. This approach offers several advantages:

• Simplified betting process
• Higher potential payouts
• Ability to trade positions before event completion
• Integration with cryptocurrency

The launch comes amid growing interest in event trading, particularly following success from companies like Kalshi and Sporttrade. While some sportsbook operators have expressed interest in cryptocurrency integration, state regulators have yet to approve such initiatives.

Co-founder and CEO Kris Marszalek emphasizes this as "a fundamentally new concept for sports," positioning Crypto.com as the first regulated platform in the U.S. to offer this unique combination of cryptocurrency and sports event trading.

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