Crypto.com lures market makers to US event contracts in bid to catch Kalshi
Crypto.com's US derivatives exchange launched a market-maker incentive program in October for combo event contracts, the parlay-style products that bundle multiple outcomes into a single trade. The program is designed to deepen liquidity on its event-contract offerings. Crypto.com built its US prediction-market platform from OG.com Markets, which it acquired through a $216 million deal for Nadex. Robinhood had agreed to add Crypto.com's prediction-market contracts to its platform.
OG.com's vertical integration lets Crypto.com chase two US revenue streams from one regulated entity: prediction markets and leveraged crypto derivatives. That structure matters because rivals fragment across partnerships. Robinhood leans on Kalshi and others. Coinbase just partnered with Kalshi for prediction-market access. The market-maker sweetener is a direct liquidity play against Kalshi's first-mover head start.
If OG.com's crypto perpetuals draw volume faster than its prediction markets, Crypto.com may shift marketing spend toward derivatives. State litigation risk remains. Crypto.com is already suing Missouri alongside Novig to defend event-contract access. A loss there would complicate OG.com's domestic expansion regardless of its product mix.