Crypto.com and Robinhood are set to broaden their prediction market offerings by introducing new event contracts linked to the entertainment industry. Both platforms have revealed their plans to dive deeper into the realm of pop culture.
Crypto.com, in collaboration with the entertainment portal Hollywood.com, has formed an exclusive partnership aimed at launching novel entertainment-centric prediction market products. This feature will empower users to speculate on outcomes related to movies, television shows, and various award ceremonies.
The initiative, backed by Crypto.com | Derivatives North America (CDNA) and accessible via Hollywood.com, is regulated by the CFTC and is designed to engage audiences that are typically more interested in fandom than financial investments.
These contracts will provide users with the opportunity to make informed predictions on entertainment events encompassing film, television, Broadway, music, and prestigious awards. Real-time pricing updates will enable users to react quickly to market shifts as new information becomes available.
Travis McGhee, the Managing Director and Global Head of Capital Markets at Crypto.com, stated, “As the popularity of prediction markets continues to expand and integrate into customers’ trading and investment plans, we are thrilled to partner with a leading media outlet in entertainment to create a fresh engagement avenue for fans of beloved content.”
“Entertainment enthusiasts are among the most dedicated consumers, and we are eager to unveil a new, legal prediction market specially crafted for them through a reliable platform.”
According to the agreement, the entertainment event contracts available on Hollywood.com will be distributed exclusively by CDNA. Hollywood.com will actively promote the new prediction platform across its various media channels and properties.
Meanwhile, Robinhood is also launching a variety of entertainment-linked event contracts, including six specific to the Grammys and Oscars, along with around twenty yes/no contracts focused on the Golden Globe Awards.
The platform is diversifying by incorporating music-related event contracts and derivatives associated with notable figures, such as Time’s Person of the Year and the winner of the Miss Universe pageant. These event contracts are made possible through partnerships with Kalshi and ForecastEx.
Last month, the company announced plans to introduce over 100 new event contracts in the upcoming weeks, some of which will be related to sports. Additional contracts on the platform will also be dedicated to AI developments, health, science, and space exploration.