Crypto.com, Hollywood.com to Launch Predictions Market for Movies, TV

Fintech platform Crypto.com has inked a deal with entertainment news website Hollywood.com to launch a predictions market platform covering film, television, and related awards events.

The new platform will enable users to trade their “opinions on entertainment event contracts across Hollywood movies, Broadway shows, television programs, musical artists, major award shows, and more,” according to a Nov. 3 press release.

Crypto.com recently filed a National Trust Bank Charter application with the US Treasury’s Office of the Comptroller of the Currency (OCC). Prior to that, in September, the firm was approved to offer margined derivatives trading on cryptocurrencies and other asset classes with an amendment to its designated contract market (DCM) license, making it the first major cryptocurrency platform globally to hold FCM, DCM, and DCO licenses in the United States for derivatives.

Prediction markets go Hollywood

The new prediction market will launch on the Hollywood.com website and will feature real-time price updates, and the ability for users to trade on their opinion of “what is going to happen next alongside their favorite entertainment developments,” ostensibly allowing users to predict award winners in film, TV, and music as well as individual episode outcomes.

The planned launch comes hot on the heels of a similar service called Mogul, launched by entertainment firm MoviePass. Mogul provides a similar experience to fantasy sports leagues, allowing users to build their own fantasy team of movies, directors, and actors which are placed in direct competition with net box office and awards-based scoring determining the victors.

Meanwhile, predictions market platform Kalshi announced on Oct. 10 that it had secured $300 million in Series D funding at a $5 billion valuation to expand its prediction market platform to over 140 countries. According to the company, it now commands a 60% share of the total predictions market.

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