Crypto.com has launched a new sports event trading platform, allowing users 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 under CFTC regulation, enables users to convert over 350 cryptocurrencies to bitcoin or US dollars for purchasing sports event trading contracts. Winning payouts are distributed in US dollars.

Unlike traditional sports betting with American odds, this exchange-based system uses implied probabilities priced from zero to 100. Contracts can be traded dynamically as prices fluctuate, allowing users to adjust positions or implement hedging strategies.

Currently, the platform offers "yes" or "no" contracts for 19 NFL teams still eligible for the playoffs. For example, both the Detroit Lions and Kansas City Chiefs show 22% implied probability of winning the Super Bowl, with contracts priced at $22.25 and $21.75 respectively.

This development follows growing interest in event trading, particularly in sports and politics. Companies like Kalshi and Sporttrade have demonstrated success in this market, attracting traditional financial services firms to explore similar offerings.

Kris Marszalek, co-founder and CEO of Crypto.com, emphasizes this as a "fundamentally new concept for sports," positioning the company as the first regulated platform in the U.S. to combine cryptocurrency capabilities with sports event trading.

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