As the most valuable and widely traded cryptocurrency, Bitcoin offers numerous potential markets. For example, there are many short-term events, such as “Will Bitcoin price rise above $X in one hour?”
Crypto.com Prediction Markets Review
Crypto.com is a major global crypto exchange platform that lets users buy, sell, trade, and store cryptocurrencies. Moreover, it offers prediction-style tools that allow users to forecast cryptocurrency outcomes. At PlayUSA, though, we prefer Kalshi for its greater depth of culture and entertainment prediction markets.
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Interestingly, this feature appeals to many people who are curious about crypto markets in general but unfamiliar with prediction or forecasting mechanics. One tell-tale sign that the majority of interested people don’t fully understand the market is that they come looking for Crypto.com promo codes, which don’t exactly apply here, as you’ll learn in greater detail.
Here is a comprehensive Crypto.com review explaining everything about how the platform’s prediction market works. It covers how speculating (predicting) works, which assets you can predict, the pros and cons, and more.
Crypto.com prediction markets promo code & bonus
Many novice users at Crypto.com often come expecting sportsbook-style bonuses. Sure, the platform offers promotions to entice and reward users, but it doesn’t require or offer traditional promo codes.
Notably, most of the available Crypto.com offers are limited to CRO tokens and prize pools. Moreover, they are mostly only applicable on the Crypto.com app or exchange platforms, not the prediction market. Still, you can participate in occasional promotional contests and win exciting rewards if you’re lucky.
Indeed, you’ll find many sites offering all sorts of Crypto.com promo codes and bonuses. Some of the sites and offers are legit, while others are elaborate scams designed to steal your data or money. As such, learn how to discern between the two and try to avoid unofficial sites claiming to offer Crypto.com Predict codes.
What is Crypto.com Predict?
Crypto.com Predict is a prediction market platform within the Crypto.com website and app. It allows users to buy event contracts, a new asset class based on the prediction of future outcomes.
Essentially, you trade (or bet) on what the future holds for a wide range of events in categories like cryptocurrency, politics, sports, and economic indicators. For example, you can trade on the future price of Bitcoin under the cryptocurrency category, or interest rate decisions in the economic indicators category.
The process of trading may differ, but fans of online sports betting should find this app incredibly usable and with a relatively low learning curve.
It is worth noting that Crypto.com and Crypto.com Predict are two different platforms. Crypto.com is a cryptocurrency exchange platform, one of the biggest in the world. In contrast, Crypto.com Predict is like a subsidiary, officially branded Crypto.com | Derivatives North America (CDNA).
The latter has a proper license from the Commodity Futures Trading Commission, which gives it a legitimacy advantage over sites like Polymarket.
You may think of Crypto.com Predict as a suite of prediction tools within the main Crypto.com platform. This comes with one major advantage for crypto-savvy users, as the familiar exchange environment makes it easier to engage with the prediction platform and understand how it works compared to fully on-chain prediction platforms.
Notably, Crpto.com | Derivatives North America is fully regulated by the Commodity Futures Trading Commission (CFTC) to offer event contracts in the US. It also operates internationally in the Americas, Europe, Asia Pacific, the Middle East, and Africa.
How does Crypto.com Predict work?
The core concept behind prediction markets is simple when you understand it, and Crypto.com Predict endeavors to make the trading experience easy and rich. Here’s an overview of the main aspects of how it works:
Prediction formats
Prediction contract formats at Crypto.com Predict go beyond the Yes/No binary format. The platform offers three format types:
- Yes/No (Basic) Predictions – This is the simplest format, whereby the contract only has two possible outcomes: Yes or No. A good example would be, “Will Bitcoin cross the $50,000 market today?” or “Will the Fed lower the interest rates this year?” You only need to pick Yes or No, depending on what you think will happen.
- Range-Based (Scalar) Predictions – Range-based predictions, also known as scalar predictions, go beyond Yes/No choices. They come with multiple possible occurrences. For example, the event could be, “Which price band will ETH fall into by Friday?” Note that the question doesn’t focus on a specific price but rather a price range, of which there could be more than a dozen.
- Categorical Predictions – Categorical predictions are events with multiple, distinct likely outcomes. For example, consider an event based on the question, “Which cryptocurrency will have the highest gain in November?” The possible outcomes could include multiple cryptocurrencies like Bitcoin, Ethereum, Litecoin, Solana, and more.
Event contracts explained
Event contracts are an asset class that you trade like any other asset. You buy the contract representing your predicted outcome based on the various prediction formats. Prices range from $0.01 to $0.99, and they directly reflect the outcome’s implied probability. For example, a contract with a price of $0.70 means that there is a 70% probability of the outcome coming true.
Notably, prices also change as probabilities change, since the markets are dynamic and traders set the odds and prices. Upon conclusion, the right outcomes pay out $1 per position, while wrong outcomes become worthless.
Settlement & payouts
Event outcomes are determined by the Crypto.com internal market index. Winning contracts award $1 for every position, while losing contracts become worthless. Notably, traders can exit their positions early before events close to limit their losses or lock in their profits. Settlement usually takes a few hours after the event concludes, and the funds are directly credited to your Crypto.com account. Notably, settlement is done in USD only.
Who uses Crypto.com Predict?
Crypto.com Predict attracts a wide variety of users with varying interests. Many people use it to try their luck at prediction market trading because of the potential profits. While most are amateurs, there are also a few professionals and experts in various categories. Besides trading, some people also use the platform to gauge public sentiments about various issues.
How to get started with Crypto.com Predict (accounts, deposits, and buying positions)
Crypto.com Predict has an overall simple design that makes trading prediction markets easy. Here’s a quick step-by-step guide to help you get started:
1
Create a Crypto.com account
You need a Crypto.com account to start trading on the platform’s prediction market. As such, start by registering as a new user. You’ll also need to verify your identity and complete the standard onboarding process. However, it’s worth noting that some of the markets you may expect to see may not be available in all regions.
2
Fund the account
Next, you’ll need money in your account to start trading event contracts. As such, make a deposit either via fiat payment methods or cryptocurrencies. Notably, you can use USD and various cryptocurrencies to trade event contracts at Crypto.com Predict.
3
Choose a prediction product
You’re now ready to start predicting the future and trading event contracts. As such, go to the Predict platform and check out the available markets. Take your time and pick your markets wisely, as many events can have unpredictable outcomes.
4
Buying a position
When you find a prediction market you are confident you can win, you need to buy positions in the likely outcome. Notably, your potential profits depend on position prices and how many positions you buy.
5
Settlement & timing
Settlements are made a few hours after events conclude. Your winnings will be settled in USD directly to your Crypto.com account. Notably, the platform offers an early exit feature that lets you close your positions before events conclude.
What can you predict on at Crypto.com?
There are many events across various fields that you can predict on at Crypto.com Predict. Notably, the platform has been diversifying its prediction markets. In addition to cryptocurrency, other available categories now include sports, politics, economics, and financials.
For traders focused on cryptocurrency, there are lots of factors on which predictions are based. Popular ones include:
Bitcoin price outcomes
Top token movements
Top altcoins like Litecoin, Solana, and Dogecoin also see lots of action and volatility, creating lots of opportunities for prediction events.
Volatility windows
Some of the cryptocurrency-based markets, like price movements, are tied to high-volatility events like Fed interest rate decisions and CPI announcements.
Market-cap milestones
Market capitalization events are also popular. A good example is, “Will the total crypto market cap reach $4 trillion by the end of the year?”
Network upgrades or crypto-specific events
These are events related to more technical cryptocurrency events and network upgrades, such as Bitcoin halving.
Besides these crypto-based events, you can also trade on events across various other categories, including:
Sports
Crypto.com Predicts covers a wide range of sports events across diverse leagues, including popular North American sports like football, basketball, and hockey, as well as international favorites like soccer.
Politics
Politics offer a never-ending stream of events, from important political decisions like agency appointments to major political events like the U.S. presidential elections.
Economics
Economic developments like inflation and important reports like job numbers also yield many events and contracts.
Financials
The financials category covers a wide range of events, such as commodity prices, stock index levels, and corporate earnings outcomes.
Notably, Crypto.com Predict also plans to add a new category for culture and entertainment, which promises exciting events. The platform is also expected to expand to other popular categories like science, technology, and the weather over time.
Pros of using Crypto.com Predict
- The platform is ideal for crypto-savvy users (presumably users of the main Crypto.com platform), as they don’t need onboarding for wallet or blockchain interaction. Even for people new to cryptocurrency, the platform features a simple design, and the core concepts of cryptocurrencies and prediction markets are easy to understand.
- Prediction contract trading feels fun and exciting because of the platform’s gamified approach. For example, there are leaderboards for prediction trading where winners compete and win cash in the form of CRO tokens. This gamified design makes crypto forecasting and prediction trading feel more approachable.
- The main Crypto.com platform already has numerous users, many of whom would be interested in prediction markets. Fortunately, users on the platform can transition easily. Moreover, integrating the prediction market platform into the exchange platform makes it easy for traders to monitor and analyze various crypto and traditional financial markets, which can help boost their prediction accuracy.
- Traders at Crypto.com Prediction have exciting offers to look forward to. For example, certain events can feature boosted prize pools, making them more profitable and thus more appealing.
- Crypto.com Predict and the main Crypto.com platform have lots of educational content on prediction markets, cryptocurrency, general finance, and more. For example, users can learn how to analyze and understand hot news events, identify market sentiments, interpret short-term price action, and other crucial trading strategies.
Cons, risks, and legal/regulatory caveats
- Some of the markets at Crypto.com Predict are highly volatile with wild price swings, especially the cryptocurrency-based markets. Notably, sudden major price swings can result in huge losses. It is also worth noting the main underlying risk in prediction market trading: unpredictability.
- While Crypto.com Predict was initially a crypto-only prediction market, it has recently expanded its selection to include sports, politics, economics, and financials. It is also planning to add a new category for culture soon. Still, the variety of categories is somewhat limited compared to other prediction markets like Kalshi and Polymarket.
- Many aspects of Crypto.com Predict are centralized, meaning that the company controls most things. It determines the markets, sets the rules, manages the point supply, controls the oracles, and manages settlements. This can raise concerns about fairness and transparency.
- Not all prediction markets at Crypto.com Predict are available universally. Some markets, like sports, are controversial in certain states, and access may be restricted depending on your region.
- Not all markets are equally popular. Some markets have low liquidity, which causes slippage, whereby prices move considerably for every position entered, which can result in financial loss. Moreover, illiquid markets can be impossible to exit before conclusion, which can be inconvenient if you start incurring losses.
- Since the main Crypto.com platform deals with cryptocurrency, it is vulnerable to various crypto-specific risks, such as lost wallet keys and hacks.
Kalshi vs. Crypto.com Predict
Interestingly, Kalshi and Crypto.com Predict are not competitors but rather partners under a recent deal dubbed Coalition for Prediction Markets (CPM). Under the agreement, Kalshi will serve as the primary platform, while Crypto.com Predict will leverage the prediction market infrastructure. Nevertheless, here’s an overview of the main differences between the two individual prediction market platforms:
| Feature | Crypto.com Predict | Kalshi |
|---|---|---|
| Regulation | Regulated in the U.S. under the CFTC as a Designated Contract Market (DCM). | Also regulated by the CFTC as a DCM. |
| Categories | Financials, sports, politics, and economics. Culture category coming soon. | Sports, politics, economics, financials, science, technology, entertainment, and weather (climate). |
| Trading | Yes – P2P event contracts | Yes – P2P event contracts |
| Currency | USD, various cryptocurrencies | USD only |
| Early exit | Yes | Yes |
Frequently Asked Questions (FAQs)
Yes, Crypto.com Predict is available in the U.S. across most states. It is fully regulated by the CFTC, which means that it is authorized to operate nationally without requiring additional state regulation or licensing. However, it is worth noting that some of its markets may not be available in certain states due to their controversial nature.
No, Crypto.com Predict doesn’t offer or ask for promo codes. While it offers various promotions, they are all automated and don’t require users to enter a code to participate. To this end, users should be cautious of third-party platforms promising promo codes and other offers.
No, you don’t necessarily need cryptocurrency to trade at the Crypto.com Predict platform. Notably, the site is primarily designed for trading using the U.S. dollar – even the winnings are settled in U.S. dollars. However, you can still convert your dollars to a wide range of cryptocurrencies and altcoins.
Yes, there is an underlying risk of losing the money you use to trade on Crypto.com Predict. Winners take it all, while losers get nothing. To this end, it is important to pick your events wisely and do enough research to make an informed prediction. Fortunately, it is possible to exit your positions early to limit your losses, but only in markets with enough liquidity.
Yes, Crypto.com Predict is the same as a regulated prediction market. In fact, it is fully regulated by the CFTC. To this end, the event contracts work the same as at any other prediction market, and it offers a closely similar range of markets and events.
That said, Crypto.com is not regulated on a state-by-state basis yet—the way you’ll find for online casinos and other forms of legal online gambling.
Yes, Crypto.com Predict has been expanding its event-based markets, and it plans to keep doing so. It currently covers a few major categories besides cryptocurrency, including politics, sports, financials, and economics. Moreover, it has announced plans to introduce another category based on culture and entertainment.
Final verdict & who Crypto.com Predict is right for
Crypto.com Predict is a robust prediction market platform. It is fully regulated by the CFTC, which allows it to operate nationally in the U.S. Though somewhat limited, it offers an increasingly expanding variety of prediction markets, including cryptocurrency, politics, sports, economics, and financials, with plans to roll out a new category for culture and entertainment.
Crypto.com Predict is part of the Crypto.com exchange platform, which gives it a few notable added advantages over other prediction markets. Most notably, the exchange enables prediction market traders to monitor and analyze market movements for cryptocurrencies and other related financial instruments. Moreover, traders can reinvest their winnings in other cryptocurrency assets outside the prediction market. Generally, the site also features lots of educational content that can also help traders with their prediction trades.
While everything about Crypto.com Predict is above board, it’s still worth noting the underlying risk involved in prediction markets. Many events can be quite unpredictable, and you risk losing your entire stake if your prediction fails. To this end, it is advisable to pick your markets wisely and moderate the size of your trades.
