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Crypto platform Crypto.com is entering the realm of sports betting in the U.S. just ahead of Super Bowl LIX, reflecting the increasing interest in this activity across the country, as announced by CEO Kris Marszalek in a statement on December 23.
Kris Marszalek Unveils Crypto.com Sports Betting Feature
As per the press release issued on Monday, the new feature will enable U.S. customers of the Singapore-based cryptocurrency exchange “to engage and trade their own predictions regarding the outcomes of sports events” via the company’s website and application.
“Sports Events Trading provides a completely new platform for U.S. users to participate nationwide at Crypto.com and within the Crypto.com app,” stated Kris Marszalek.
“This innovative financial product allows users to trade their predictions on the outcomes of sports events,” he continued. “It represents a fundamentally new idea for sports, and we are excited to be the first regulated platform in the U.S. to present it to our users.”
Crypto.com CEO Meets With Donald Trump
The announcement of the crypto firm’s latest expansion follows closely after Marszalek’s meeting with President-elect Donald Trump at his Mar-a-Lago estate, just before his inauguration on January 20.
Honored to have a seat at the table. pic.twitter.com/KvK0XyEdYZ
— Kris | Crypto.com (@kris) December 17, 2024
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The two reportedly discussed the possibility of establishing a federal bitcoin reserve and developing a regulatory framework that is favorable to cryptocurrency when the former reality television star resumes his role in the Oval Office.
Shortly after the meeting, Crypto.com revealed that it would withdraw a lawsuit filed in October against the United States Securities and Exchange Commission (SEC), which accused the agency of overstepping its regulatory authority.
The crypto exchange had previously received a Wells notice from the SEC indicating its intention to pursue enforcement action against the organization led by Marszalek; however, it seems this action may not materialize during Trump’s forthcoming term.
“We are eager to collaborate with the new administration to establish and promote clear regulations for the crypto sector so that the U.S. can emerge as a global leader in digital assets and innovation,” a spokesperson for the company informed Bloomberg.
Trump committed during his campaign to implement regulations that would be favorable to cryptocurrency if he returns to the White House.
The New York-born businessman has since appointed former SEC commissioner and consulting firm leader Paul Atkins to succeed current SEC chair Gary Gensler.
With connections in the crypto industry, Atkins is widely regarded as a more crypto-friendly alternative to Gensler’s regulation-by-enforcement stance on digital assets.
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