Prospect Markets announced Tuesday that its indirect wholly owned subsidiary, Prospect Trading USA LLC, has become a member of Crypto.com Derivatives North America (CDNA). It's another step toward the company's planned entry into the U.S. prediction market sector.
Key Takeaways
- Founded in 2025, Prospect Markets is a Canada-based company developing a sports-focused prediction market platform.
- Prospect Markets issued a letter of intent in July to work with Crypto.com-related entities on its U.S. expansion.
- Prospect Trading USA became a member of CFTC-regulated Crypto.com Derivatives North America on Tuesday.
CDNA is regulated by the U.S. Commodity Futures Trading Commission (CFTC).
“We are proud to become a member of CDNA, one of the most established CFTC-regulated exchanges in the United States and a pioneer in event-contract markets," said Johnny Chen, founder and chief executive officer of Prospect. “Membership on an exchange of this pedigree is an important milestone for Prospect. It supports the buildout of our Institutional Trading division and deepens our role in the U.S. prediction markets ecosystem as it continues its rapid growth.”
Prospect Markets outlined its U.S. plans in July, issuing a letter of intent to partner with OG Broker, a registered futures commission merchant (FCM) and related entity of Crypto.com.
“Our mission is to make every sports moment tradable, and this gives us the infrastructure to prove it at the scale the American market demands,” Chen said at the time.
Prospect Markets is a Canada-based prediction market company building a platform designed specifically for sports, with plans to let fans trade peer-to-peer on outcomes using real-time data. The membership gives Prospect direct access to CDNA as the company continues building toward a U.S. launch of its sports-focused prediction markets.
“This is about focus. Our entire organization is now pointed at one thing: bringing a sports-native prediction market to the US alongside our partners at Crypto.com,” Chen said. “We can now focus all of our efforts on the US launch, our market-making business, and the partnerships we have ahead. Our mission is to make every sports moment tradable, and this keeps us moving toward it as fast as this market demands.”
Prospect isn't the only sports-focused company making moves in prediction market news, as ProphetX announced a partnership with EDGE Markets on Tuesday that will enable 24/7 real-time deposits via EDGE's banking product. Meanwhile, Novig's trading volume topped $125 million in its first week as a prediction market platform.
