Prediction markets have introduced a new product offering targeting entertainment fans, thanks to a key partnership between Crypto.com and Hollywood.com. On Monday, Crypto.com announced the launch of its new prediction market, highlighting an exclusive collaboration with the entertainment website Hollywood.com.
This entertainment-focused prediction market will provide prediction products across Hollywood.com, with contracts powered by Crypto.com’s regulated platform, Derivatives North America. Derivatives North America is an exchange and clearinghouse registered by the Commodity Futures Trading Commission (CFTC).
With this new offering, Crypto.com will give customers access to prediction contracts related to movies, actors, and television shows. This move comes amid significant growth in the prediction markets sector.
“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,” said Mitchell Rubenstein, co-chief executive officer of Hollywood.com, in a statement.
In recent developments, October saw Trump Media & Technology Group, the company behind Truth Social, announce plans for a new regulated prediction market in partnership with Crypto.com’s North America derivatives unit. Additionally, the Solana decentralized exchange platform, Jupiter, has 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 experienced notable growth and is considering re-entry into the U.S. to compete in 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 and 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, musical artists, and more. This new platform aims to create an engaging and innovative experience for entertainment enthusiasts looking to participate in prediction markets legally and securely.
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