USA
MyPrize, one of my favorite sweepstakes casinos, just announced a strategic partnership with Crypto.com to launch MyPrize Markets.
This makes MyPrize the first sweepstakes casino operator to integrate CFTC-regulated prediction markets. The platform is to offer sports, politics, crypto, and event contracts within a mobile app that combines livestreaming, gaming, and social features.
MyPrize Presents a Social Spin on Prediction Markets
MyPrize Markets plans to put a spin on prediction trading with a user-centric, social focus, reminiscent of what we’re familiar with in the sweepstakes casino space.
It fuses event-based markets with real-time community interaction and AI personalization. I’m not convinced the AI personalization will make any massive headlines; more of a buzzword that aligns well with the times. But I would expect gamification and strong community engagement, since this is something MyPrize manages well in its existing products.
Zach Bruch, MyPrize founder and CEO, said: "We are excited to partner with Crypto.com to launch all new prediction market products like sports, events, crypto, and more to our million+ users in the US and abroad. 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."
Travis McGhee, Crypto.com Managing Director and Global Head of Capital Markets, highlighted the convergence: "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."
MyPrize May Set a New Trend With Sweepstakes Casino Operators Entering the Prediction Markets Industry
The launch arrives amid a booming prediction market industry, which is rapidly expanding under a Trump-friendly regulatory environment. MyPrize's approach could attract other sweepstakes sites to offer prediction markets. From the top of my head, Sports Millions would be a great match. This site already offers a sportsbook under a dual-currency model, and has a good product-market fit with prediction markets. I wouldn’t be surprised if giants like WOW Vegas and VGW-managed brands like Chumba start offering prediction markets too.
Updated 14th Nov: ProphetX Becomes the Second Sweepstakes Platform to Enter the Prediction Market Industry
ProphetX Seeks CFTC Regulation to Ditch Sweepstakes ModelProphetX has filed applications to become a federally regulated prediction market exchange under the CFTC, aiming to escape the state-by-state constraints of its current sweepstakes model.
The shift would allow nationwide operations without varying gaming rules. Co-founder Jake Benzaquen said the process is collaborative, with ongoing CFTC meetings through 2026. “We’ve filed our applications, which doesn’t mean we’ve obtained licenses yet. We’re already working with the CFTC,” he said. Approval would position ProphetX alongside Kalshi and others in the regulated event-contract space.