MyPrize aims to put social spin on prediction markets with Crypto.com partnership

Social gaming platform MyPrize has partnered with Crypto.com in the hopes of making prediction market trading more entertaining. 

"Together 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,” MyPrize founder and CEO Zach Bruch said in a statement. “After exploring the market, it quickly became obvious to us that Crypto.com has by far the market-leading infrastructure for institutional and enterprise scale."

MyPrize said it has more than 1 million users in the U.S. and abroad.

Led by Polymarket and Kalshi, prediction markets have become a high-growth sector within digital assets. Using these platforms, customers can wager on the outcomes of specific events. Major trading platforms like Robinhood and Coinbase are exploring or planning to offer customers access to prediction markets.

MyPrize’s deal was struck with Crypto.com’s North American derivatives arm. The affiliate is a CFTC-registered exchange and clearinghouse, according to a statement.

Being able to operate in the U.S., where gambling is already very popular, could prove to be a major advantage. While Kalshi already supports U.S.-based users, Polymarket is preparing to reopen in the U.S. before the end of November.

MyPrize is a web3 gaming startup that supports streaming and allows users to collaborate and play together. Last year, the company emerged from stealth, and it has raised a total of $38 million with participation from Dragonfly and Boxcars Ventures at a $250 million valuation cap.