Prospect Markets targets $1T prediction market with Crypto.com-backed OG Broker

Prospect Prediction Markets Inc. signed a non-binding letter of intent with OG Broker, a Crypto.com-backed futures commission merchant, to launch sports-focused event contracts through a CFTC-registered exchange in the United States.

"This partnership is the moment Prospect goes from vision to reality in the US," Johnny Chen, founder and chief executive officer of Prospect Markets, said in a statement. "Our mission is to make every sports moment tradable, and this gives us the infrastructure to prove it at the scale the American market demands."

The partnership targets an addressable market estimated to exceed $1 trillion in annual trading volume. OG Broker, operating as Foris DAX FCM LLC, provides access to North American Derivatives Exchange Inc., a CFTC-regulated designated contract market and derivatives clearing organization that operates under the brands OG Prediction Markets and Crypto.com | Derivatives North America. OG offers event contracts across sports, cryptocurrency, financials, economics, climate and culture, according to its website.

"We are excited to partner with Prospect Markets as they look to enter the growing US prediction market landscape," Steve Humenik, chief legal officer of OG and executive vice president and global head of legal for prediction and capital markets at Crypto.com, said. "This partnership underscores our commitment to expanding a compliant digital asset and derivatives ecosystem."

The parties are targeting a product launch in the third quarter of 2026, subject to definitive agreements and regulatory approvals including NFA registration. The deal marks Prospect Markets' entry into the US, the world's largest prediction markets opportunity, and extends Crypto.com's push into regulated financial derivatives beyond cryptocurrency trading.

Prospect Markets, which trades on the TSX Venture Exchange under the ticker MKT and on the OTCQB under MKTSF, is scheduled to present at B2i Digital's Global Technology Virtual Investor Conference on July 9. The company describes itself as a prediction market platform built natively for sports, allowing peer-to-peer trading on outcomes using real-time data.

OG is available to residents in most US states, though New York and Arizona residents are fully restricted from trading, and users in seven other states including Illinois and New Jersey are prohibited from trading on sports contracts, according to the platform's terms.

This article is for informational purposes only and does not constitute investment advice.