Prospect Markets has entered into a letter of intent with Foris DAX FCM LLC, known as OG Broker and backed by Crypto.com, to establish a sports-oriented prediction market.
This agreement sets the stage for a collaboration with North American Derivatives Exchange Inc. (Nadex), which manages the OG Prediction Markets and Crypto.com | Derivatives North America brands, in addition to a clearing partnership through OG Broker. This initiative aims to facilitate Prospect Markets' upcoming launch of sports-related event contracts tailored for U.S. users.
Through this collaboration, Prospect Markets intends to provide U.S. participants with event contracts regulated by the Commodity Futures Trading Commission (CFTC) via OG Broker, marking a significant step into the U.S. prediction markets arena.
Johnny Chen, the Founder and CEO of Prospect Markets, expressed enthusiasm about the partnership, stating, “This collaboration signifies the transition of Prospect from concept to reality within the U.S. Our goal is to make every sports moment tradable, and this partnership equips us with the necessary infrastructure to meet the demands of the American market.”
Steve Humenik, Chief Legal Officer of OG and Executive Vice President at Crypto.com, highlighted the excitement surrounding the partnership, noting, “We are thrilled to collaborate with Prospect Markets as they venture into the expanding U.S. prediction market. This partnership reflects our dedication to developing a compliant digital asset and derivatives ecosystem that provides U.S. participants with unmatched trust and transparency.”
The partnership is contingent upon the finalization of definitive agreements and obtaining any necessary regulatory approvals, with a product launch anticipated in the third quarter of 2026.