Crypto.com Brings Wagering to Hollywood with Prediction Market Launch
Crypto Exchange Aims to Make Event-Based Wagering Ubiquitous, From Oscars to Sports
A version of this story was first published in multiple prominent entertainment and business publications on various dates.
Travis McGhee, the global head of capital markets at Crypto.com, a Singapore-headquartered cryptocurrency exchange, is betting big on his company’s prediction market product becoming the go-to platform for event-based wagering. The company has recently partnered with Hollywood.com to integrate its prediction markets directly into articles on their website, enabling readers to place bets while reading news and interviews about upcoming films.
Oscar parties are legendary social gatherings where attendees engage in lively discussions about who is likely to win various awards. McGhee believes that his company’s product perfectly complements these events. "We see tremendous potential for event-based wagering on entertainment-related topics, like the Oscars," he said.
The prediction markets offered by Crypto.com allow users to win money by accurately forecasting the outcomes of various events, from sports games to financial market fluctuations. The platform has already established itself as a leading provider of prediction markets, with more than 152 million users who trade digital assets.
In recent months, Crypto.com has solidified its position in the prediction market space through strategic partnerships and acquisitions. The company has collaborated with Polymarket, one of the top prediction market providers, to create event-based wagering opportunities on sports games and cultural events. Furthermore, Crypto.com has partnered with Truth Social, a social media platform created by former US President Donald Trump, to offer users unique event-based wagering experiences.
Sports and entertainment are just the tip of the iceberg for Crypto.com’s ambitious plans. The company aims to expand its offerings into politics, culture, and traditional financial markets. By doing so, it intends to tap into new revenue streams while increasing user engagement on its platform.
The growing interest in prediction markets is a testament to their appeal as an entertainment product. According to Dune Analytics data, weekly notional volumes for these markets have reached $3 billion in November, surpassing the previous month’s record level of $2 billion. This growth is primarily driven by sporting events; however, other categories, like culture and politics, have also gained traction.
While the increasing popularity of prediction markets presents a lucrative opportunity for Crypto.com, it also raises significant regulatory challenges. Several state gaming authorities in the United States, including those in Nevada, Ohio, and Maryland, have issued cease-and-desist letters or orders against Crypto.com’s event-based wagering activities.
In May, the Nevada Gaming Control Board ordered Crypto.com to stop its offerings in the state. The company responded by filing a lawsuit against the NGCB in June. A federal judge denied its request for a preliminary injunction in October. As a result, Crypto.com is currently re-evaluating its strategy for sports event contracts and plans to continue offering them through integrated prediction markets.
Travis McGhee expressed confidence that his company will prevail over regulatory hurdles: "We firmly believe that event contracts are subject to the exclusive jurisdiction of the Commodity Futures Trading Commission. We are assured that federal courts will rule in our favor."
Looking ahead, Crypto.com is pushing forward with its ambitious integration plans. By January 2026, users can expect seamless access to the company’s prediction market offerings through various platforms.
Crypto.com has already begun collaborating on multiple integrations across different markets, cementing its position as a leader in event-based wagering services.
Crypto.com Brings Wagering to Hollywood with Prediction Market Launch
Crypto Exchange Aims to Make Event-Based Wagering Ubiquitous, From Oscars to Sports
A version of this story was first published in multiple prominent entertainment and business publications on various dates.
Travis McGhee, the global head of capital markets at Crypto.com, a Singapore-headquartered cryptocurrency exchange, is betting big on his company’s prediction market product becoming the go-to platform for event-based wagering. The company has recently partnered with Hollywood.com to integrate its prediction markets directly into articles on their website, enabling readers to place bets while reading news and interviews about upcoming films.
Oscar parties are legendary social gatherings where attendees engage in lively discussions about who is likely to win various awards. McGhee believes that his company’s product perfectly complements these events. "We see tremendous potential for event-based wagering on entertainment-related topics, like the Oscars," he said.
The prediction markets offered by Crypto.com allow users to win money by accurately forecasting the outcomes of various events, from sports games to financial market fluctuations. The platform has already established itself as a leading provider of prediction markets, with more than 152 million users who trade digital assets.
In recent months, Crypto.com has solidified its position in the prediction market space through strategic partnerships and acquisitions. The company has collaborated with Polymarket, one of the top prediction market providers, to create event-based wagering opportunities on sports games and cultural events. Furthermore, Crypto.com has partnered with Truth Social, a social media platform created by former US President Donald Trump, to offer users unique event-based wagering experiences.
Sports and entertainment are just the tip of the iceberg for Crypto.com’s ambitious plans. The company aims to expand its offerings into politics, culture, and traditional financial markets. By doing so, it intends to tap into new revenue streams while increasing user engagement on its platform.
The growing interest in prediction markets is a testament to their appeal as an entertainment product. According to Dune Analytics data, weekly notional volumes for these markets have reached $3 billion in November, surpassing the previous month’s record level of $2 billion. This growth is primarily driven by sporting events; however, other categories, like culture and politics, have also gained traction.
While the increasing popularity of prediction markets presents a lucrative opportunity for Crypto.com, it also raises significant regulatory challenges. Several state gaming authorities in the United States, including those in Nevada, Ohio, and Maryland, have issued cease-and-desist letters or orders against Crypto.com’s event-based wagering activities.
In May, the Nevada Gaming Control Board ordered Crypto.com to stop its offerings in the state. The company responded by filing a lawsuit against the NGCB in June. A federal judge denied its request for a preliminary injunction in October. As a result, Crypto.com is currently re-evaluating its strategy for sports event contracts and plans to continue offering them through integrated prediction markets.
Travis McGhee expressed confidence that his company will prevail over regulatory hurdles: "We firmly believe that event contracts are subject to the exclusive jurisdiction of the Commodity Futures Trading Commission. We are assured that federal courts will rule in our favor."
Looking ahead, Crypto.com is pushing forward with its ambitious integration plans. By January 2026, users can expect seamless access to the company’s prediction market offerings through various platforms.
Crypto.com has already begun collaborating on multiple integrations across different markets, cementing its position as a leader in event-based wagering services.