Crypto.com and OG Prediction Markets have signed a multi-year global partnership agreement with the U.S. SailGP team. The partnership is expected to take place before this week's Sail Grand Prix in New York, and the two companies plan to introduce race prediction contracts regulated by the U.S. Commodity Futures Trading Commission (CFTC) into the professional sailing racing arena.

OG enters the US compliance prediction market

In this partnership, Crypto.com will serve as the official cryptocurrency exchange partner of the US SailGP team, while OG Prediction Markets will become the official prediction market partner. Both brands will be featured on the US Team F50 catamaran, racing gear, and in SailGP events worldwide.

The core product of this collaboration is OG Prediction Markets. Launched earlier this year by Crypto.com, this platform offers event contract trading to US users, covering outcome-based markets such as sports, finance, politics, and culture.

According to the article, OG is powered by Crypto.com's North American derivatives business, and the platform is a CFTC-registered exchange and clearinghouse. In other words, Crypto.com is attempting to bring its prediction market business under the US federal regulatory framework, rather than continuing with an offshore model.

SailGP continues to advance data interaction

SailGP has been enhancing its data-driven viewing experience in recent years. The league says its tracking system collects hundreds of data points per second for each boat, and this real-time data has been used for broadcasting and odds generation.

Following this collaboration, this type of data will be further integrated into user-facing prediction market products. OG hopes to leverage the exposure from the American SailGP team to combine race result trading with fan engagement, expanding the use of prediction markets in the sports arena.

Crypto.com expands its event contract business

For Crypto.com, this partnership also demonstrates that its business focus is shifting from traditional spot trading to derivatives and event contracts. When OG launched in February of this year, it was positioned as a social prediction app where users could trade based on the outcomes of real-world events.

The article mentions that this partnership continues Crypto.com's strategy of sponsoring sports events. For the platform, sporting events provide both a traffic entry point and increased visibility and potential transaction volume for the regulated events market.

Meanwhile, prediction markets are gaining momentum within the crypto industry. Platforms including Polymarket have demonstrated that trading around probability not only has speculative attributes but can also create an information aggregation effect. Crypto.com hopes to bring this model under the US regulatory framework and integrate it with product designs such as sports communities and leaderboards.