Chavdar Vasilev is a journalist covering the casino and sports betting market sectors for CasinoBeats. He joined CasinoBeats in May 2025 and reports on industry-shaping stories across the US and beyond, including legislative debates, market...
Read Full BioSocial gaming operator MyPrize has partnered with Crypto.com to launch “MyPrize Markets,” marking the first sweepstakes casino to enter the prediction market segment. This crossover could shape the boundaries of unregulated/federally regulated gaming in the US.
The deal enables MyPrize to leverage Crypto.com’s “enterprise-grade infrastructure to deliver an engaging and intuitive prediction market experience to its massive global user base, now numbering over 1 million.”
The news release adds that the collaboration “represents a major step forward in combining regulated prediction markets with social gaming experiences.”
MyPrize Founder and CEO Zach Bruch said the partnership will allow the company to deliver “all new prediction market products like sports, events, crypto, and more to our million+ users in the US and abroad.”
He added: “Together we will lean in and deliver fun and engaging experiences for our players and bring major enhancements to the social, livestreaming content, and community engagement that the MyPrize platform fosters.”
MyPrize, which bills itself as a “social streaming and gaming platform,” said the integration would make event-based markets accessible to its global user base. The deal will blend the “entertainment of social gaming” with “the excitement of real-world event trading.”
MyPrize’s Rapid Growth & Funding
The partnership comes amid a period of rapid expansion for MyPrize, which launched in the spring of 2024.
In July 2025, it closed a $21 million funding round, valuing the company at $250 million. MyPrize claims a $1.2 billion GMV run rate. With projections to surpass $100 million in 2025 revenue, it claims to be the fastest-growing gaming business and one of the fastest-growing technology companies in the US.
MyPrize operates under the dual-currency sweepstakes model, which is facing prohibitions and enforcement actions nationwide.
The addition of prediction markets gives MyPrize a pathway into the more speculative, trading-like experience that’s gaining traction in US betting circles.
Collision of Two Gray Areas
Both prediction markets and sweepstakes casinos occupy regulatory gray zones — and both are drawing intensifying scrutiny.
Sweepstakes casinos have been banned in states such as Montana, California, New Jersey, and Connecticut. Meanwhile, prediction market platforms like Crypto.com and Kalshi, which operate under the oversight of the Commodity Futures Trading Commission (CFTC), face ongoing questions over whether their event contracts constitute gambling or regulated derivatives.
By merging the two concepts, MyPrize may have found a new way to maintain access in jurisdictions that have moved against traditional sweepstakes operations. Notably, the company does not list Connecticut among its excluded states. That’s a contrast to competitors like Pulsz, McLuck, and Chumba Casino, which exited after the statewide ban was enacted.
Crypto.com’s Expanding Prediction-Market Network
The deal marks the latest step in Crypto.com’s expansion of its portfolio of partnerships in the prediction market space. In recent months, the exchange has partnered with Underdog Fantasy and Trump Media. Through their collaboration, Underdog was able to offer products like parlays in California and Texas.
Meanwhile, the Trump-linked collaboration allows Truth Social to enable users to trade on “major events and milestones, such as political elections, interest and inflation rate changes, commodity prices on gold and crude oil, events across all major sports leagues, and more.”
However, Crypto.com’s expansion has not been without friction. The company recently agreed to exit Nevada after the state’s gaming regulator warned licensees to avoid partnerships with prediction-market operators. It has also joined Kalshi in a legal challenge against Maryland regulators to defend event-contract trading under federal jurisdiction.
Regulatory Crossroads
The MyPrize–Crypto.com partnership lands at a moment when federal and state regulators are diverging sharply over what constitutes gambling.
At the federal level, the CFTC continues to grapple with questions about where event-based contracts end and wagering begins. Platforms like Crypto.com and Kalshi frame their products as financial instruments rather than bets. However, that distinction remains contested in multiple jurisdictions.
State regulators have taken the opposite approach. Several gaming commissions have warned licensees that partnerships with prediction-market operators could amount to unlicensed wagering. Meanwhile, some states have moved to prohibit sweepstakes-casino operations outright.
That patchwork has forced several operators to retreat. Novig, for instance, exited New Jersey after the state passed a ban on dual-currency sweepstakes platforms. However, unlike Novig, which offers an exchange-style sportsbook, MyPrize is the first sweepstakes casino to enter prediction markets. It hopes to utilize its federally connected partnership with Crypto.com as a potential compliance shield.
By combining the sweepstakes model with a CFTC-registered platform, MyPrize is testing whether a federal derivatives license can provide a legal pathway into states where it’s not currently operating. Examples include New York, New Jersey, Michigan, and Nevada. The move could either redefine access for sweepstakes operators or prompt regulators to tighten state-level prohibitions even further.
The line between speculative contracts and traditional wagering remains unsettled. The CFTC has been largely silent on the classification of prediction markets. Still, clarity could emerge if new leadership, such as Chair-nominee Michael Selig, moves to address the issue.
Another option lies through the courts, with several pending cases across states such as New York, Massachusetts, and Nevada. However, those may take years to complete.
A Hybrid Future
The partnership underscores how companies are pushing the boundaries of entertainment, speculation, and technology that are reshaping the digital gaming landscape.
If successful, it could inspire other sweepstakes casinos to explore federally regulated market integrations. Conversely, it could provoke fresh scrutiny from state gaming commissions seeking to close emerging loopholes.
Whether it becomes an innovation milestone or a regulatory battleground, MyPrize Markets positions MyPrize squarely at the intersection of sweepstakes casinos and prediction markets. In this space, gaming, trading, and compliance increasingly overlap.
