Crypto.com Doubles Down with 'OG' App
Crypto.com has officially spun out its prediction markets business into a standalone platform named "OG." The move follows a period of what the company describes as explosive growth, with the exchange reporting a 40x increase in activity. According to Cointelegraph, the dedicated app enters a crowded US market just as competitors face intensifying scrutiny from state regulators.
Nevada vs. Coinbase
While Crypto.com expands, Coinbase is facing a new legal hurdle. Nevada authorities have filed an enforcement action to bar Coinbase’s prediction markets, alleging the products constitute unlicensed wagering. This follows Coinbase's recent announcement of a 50-state launch. As reported by Decrypt, this clash comes shortly after Coinbase filed federal lawsuits challenging jurisdiction in three other states, highlighting the fragmented regulatory landscape for event contracts.
Capital Flows and Volume Surges
Despite regulatory friction, capital continues to flood the sector. "Opinion," a blockchain-based prediction platform, has successfully raised $20 million. The platform claims to handle one-third of global prediction market volume, betting that onchain settlement will drive future growth, according to CoinDesk.
Market activity supports this bullish outlook. Daily trading volumes for industry leaders Polymarket and Kalshi have recently exceeded $400 million. The competition for users has spilled into the physical world, with Cointelegraph reporting that both firms are engaging in "grocery giveaways" in New York City to attract retail participants.
Meanwhile, the "Limitless" token is rallying as its monthly volume tops $200 million, signaling strong demand for decentralized alternatives. Investors and traders tracking these rapid volume shifts often rely on resources like predictionmarketstools.com to monitor liquidity and arbitrage opportunities across these fragmenting platforms.