Prediction markets have a new product offering targeting entertainment fans, thanks to a key partnership between Crypto.com and Hollywood.com.
Summary
- Crypto.com and Hollywood entertainment platform have partnered to launch new prediction market products.
- The entertainment-focused prediction market will offer contracts Crypto.com Derivatives North America.
- Prediction markets is a rapidly expanding ecosystem, with Polymarket and Kalshi key players.
Crypto.com announced the launch of its new prediction market on Monday, noting an exclusive partnership with the entertainment website Hollywood.com.
The two companies’ entertainment-focused prediction market will offer prediction products across Hollywood.com, with contracts powered by Crypto.com’s regulated platform Derivatives North America.
Hollywood movies and shows come to prediction market
Crypto.com Derivatives North America is an exchange and clearinghouse registered by the Commodity Futures Trading Commission. With this offering, Crypto.com will offer customers access to prediction contracts on movies, actors, and shows.
The move comes as prediction markets witness significant growth.
“The success of prediction markets demonstrates the massive appetite for trading on the outcome of future events—and now Hollywood.com is bringing that innovation to entertainment’s biggest stage,” Mitchell Rubenstein, co-chief executive officer of Hollywood.com, said in a statement.
In October, Trump Media & Technology Group, the company behind Truth Social, announced plans for a new regulated prediction market, also in partnership with Crypto.com’s North America derivatives unit.
https://twitter.com/cryptocom_rni/status/1985374751393493374
The Solana decentralized exchange platform, Jupiter, also recently entered the space with a beta version of a prediction market backed by Kalshi.
Meanwhile, prediction market operator Kalshi has reportedly attracted fresh venture capital interest at a valuation of over $10 billion. Blockchain prediction marketplace Polymarket has also seen notable growth and is eyeing re-entry into the U.S. to take over the sports betting market.
“Entertainment fans are some of the most passionate consumers, and we look forward to providing them a new, legal prediction market specifically tailored to them through a trusted platform,” said Travis McGhee, managing director, global head of capital markets at Crypto.com.
On offer will be contracts that allow fans to trade predictions on movies, Broadway shows, television programs, major award shows, and musical artists among others.
