MyPrize Becomes the First Sweepstakes Company Entering the Prediction Markets Space

Trusted crypto-asset service provider Crypto.com announced yet another partnership, this time with sweepstakes specialist MyPrize. The agreement will turn the latter company into the first sweepstakes business to enter the hot prediction markets space.

MyPrize Enters the Prediction Markets Space

MyPrize is a fast-growing sweepstakes operator that has long enjoyed a significant presence in the US social casino sector. With the rise of prediction markets, however, the company has decided to explore this new frontier.

According to the announcement, Crypto.com | Derivatives North America (CDNA), a CFTC-registered exchange and clearinghouse and an affiliate of Crypto.com, will power the launch of MyPrize Markets, a new platform where players can access both sweepstakes and prediction markets.

This innovative solution taps into the growing demand for prediction entertainment, allowing MyPrize to capitalize on existing trends and grow its user base. Fans can look forward to enjoying sports, politics, and crypto-related event contracts on the new MyPrize Markets platform.

While both sweepstakes and prediction markets have been experiencing some regulatory scrutiny in certain US states, the popularity of these products has remained undisputable. By pairing the two, MyPrize Markets positions itself for explosive growth.

According to the announcement, MyPrize Markets will be available on both desktop and mobile devices, both domestically and internationally via MyPrize.us and MyPrize.com.

The Deal Will Deliver Fun and Engaging Experiences

MyPrize’s founder and chief executive officer, Zach Bruch, expressed excitement about the partnership with Crypto.com and the launch of a new product that combines sweepstakes and prediction markets.

Together [with Crypto.com] we will lean in and deliver fun and engaging experiences for our players and bring major enhancements to the social, livestreaming content, and community engagement that the MyPrize platform fosters.

Zach Bruch, founder & CEO, MyPrize

Bruch praised Crypto.com for its market-leading infrastructure and said that choosing it as MyPrize’s prediction markets partner was a no-brainer.

Travis McGhee, Crypto.com’s managing director and global head of capital markets, was likewise pleased with the deal and the overall convergence of financial markets into other sectors.

Now, we are at the forefront of a similar convergence with live social platforms and financial markets with our partner, MyPrize. Together, we are positioned to grow, innovate, and be the leader in prediction market products, which allow information discovery of what matters to retail users.

Travis McGhee, MD & global head of capital markets, Crypto.com

The deal comes shortly after Crypto.com formed a similar partnership with Hollywood.com.