Crypto.com has launched a pioneering sports event trading platform, allowing users to trade predictions on sports events outcomes, including the Super Bowl, using cryptocurrencies.

The platform, operated by Crypto.com | Derivatives North America and regulated by the CFTC, enables users to convert over 350 cryptocurrencies to bitcoin or USD for purchasing sports event trading contracts. Winning bets are paid out in dollars.

Unlike traditional sportsbooks that use American odds, this exchange betting system uses implied probabilities, pricing contracts from zero to 100. For example, a team with a 50% chance of winning would have a contract price of $50. Users can actively trade these positions as prices fluctuate, similar to traditional derivatives.

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

This launch follows growing interest in event trading markets, particularly driven by political betting enthusiasm. Financial service companies are increasingly entering this space, offering alternatives to traditional fixed-odds sports betting through platforms like Kalshi and Sporttrade.

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

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