At Crypto.com, you can trade event contracts on multiple prediction market categories, including politics, culture, economics, sports, and companies. It is registered with the Commodity Futures Trading Commission (CFTC) and is currently accessible in 45 US states.
So, is Crypto.com available in New York? That’s a question many traders in the state who are looking to use the site’s services have probably asked. At the time of writing, Crypto.com’s prediction markets product isn’t available in New York. Keep reading for all the details on how this product works and its potential availability in New York.
Quick Facts About Crypto.com’s Status in New York
- Crypto.com offers a prediction markets product that supports event contracts in multiple categories.
- It is currently available in 45 US states at the time of writing.
- New York and Arizona are the only US states where the site’s prediction market product isn’t currently available.
- There is no official announcement about when the product will become available in New York.
Crypto.com is a crypto-first site where you can trade “Yes”/”No” event contracts on the outcome of real-world events. If you trade in the “Yes” position, that means that you believe that the event will occur, and if you trade “No”, then you don’t think the event will occur.
The prices of event contracts reflect market sentiment about the likelihood that the event in the contract will occur. Event contracts are priced between $0.01 and $0.99, and if your prediction about a contract is correct, you’ll receive a payout of $1, and the contract expires at $0 if your prediction about the event is wrong.
Crypto.com’s prediction markets product covers multiple
sports prediction
markets and other event categories, including politics, culture, economics, climate, and companies. The site operates under CFTC oversight, supports several trusted fiat and non-fiat payment methods, and only charges a minimal fee for trading event contracts.
We offer more details about the site’s features and services in our
Crypto.com prediction markets review, so you can check it out for more information. Note that you can only sign up and use the site’s services if you’re 18 years old and reside in a location where it’s available. At the time of writing, Crypto.com is available in 45 US states.
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Get trusted crypto insights on Crypto.com
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Forecast market movements on Crypto.com
Sponsored by Crypto.com – Not investment advice. Trading prediction markets and crypto involves risk, including potential loss of your stake. Consider your risk tolerance before participating. Crypto.com connects U.S. users to CDNA (regulated by CFTC) for derivatives trading. CDNA membership required. Trading may not be suitable for all—you could lose your entire investment plus fees. Past performance doesn't guarantee future results. This is not a solicitation or recommendation to trade.
Besides the federal regulations that govern the operations of prediction markets, US states also have local legislation that prediction market brands must comply with. The State of New York has one of the strictest licensing frameworks in the US, and has additional requirements for businesses whose services involve virtual currencies. At the time of writing, Crypto.com’s prediction markets product isn’t available in the state.
That said, the site claims to be “...evaluating the steps required to offer…” their services in New York. It also promised to provide updates when and if its status in the state changes. We’ll also update this page with the latest information about the site’s availability in New York, so you might want to check this page occasionally.
Pros and Cons of Using Crypto.com
Here are the pros and cons of using Crypto.com’s services in locations where it is available:
Pros and Cons
- Multiple prediction market categories
- Minimal trading fees
- Native app available
New York has additional requirements for the use of virtual currencies in providing services. At the time of writing, Crypto.com’s prediction markets aren’t available in the state. However, it claims to be reviewing the steps needed to become available in the state. We’ll update this page if Crypto.com’s prediction markets product becomes available in New York.
In the meantime, traders who reside in jurisdictions where the site is available can access multiple event categories, among other features. Signing up is easy. All you’d have to do is click on the on-page banners and follow the prompts.
🗽 Why Isn’t the Site’s Prediction Markets Product Available in New York?
Crypto.com hasn’t met some of the requirements for crypto-first businesses looking to operate in New York.
🌎 Where Else Is Crypto.com’s Prediction Markets Product Available?
Crypto.com is currently available in all US states except New York.
📅 When Is Crypto.com Expected to Be Available in New York?
There is no official announcement about the site becoming available in New York. However, we’ll update this page if the site’s availability status changes in the state.
This content is sponsored by Crypto.com: Securely Buy, Sell and Trade Bitcoin, Ethereum and 400+ Crypto and should not be considered as investment advice. Trading on prediction markets carries risks, including market volatility and the possibility of losing your stake. Before participating, carefully consider your risk tolerance and the potential outcomes. Foris DAX Inc. and Foris Inc. (d/b/a Crypto.com) offer connectivity to Crypto.com | Derivatives North America (CDNA), which is regulated by the Commodity Futures Trading Commission, for the purpose of trading derivatives on and subject to the rules of CDNA. Currently available for U.S. users only, who must first become a Member of CDNA prior to trading event contracts on CDNA. Trading on CDNA involves risk and may not be appropriate for all. Customers risk losing their cost to enter any transaction, including fees. You should carefully consider whether trading on CDNA is appropriate for you in light of your investment experience and financial resources. Any trading decisions you make are solely your responsibility and at your own risk. Past performance is not necessarily indicative of future results. None of the material on Crypto.com or CDNA is to be construed as a solicitation, recommendation or offer to buy or sell any financial instrument on CDNA or elsewhere. CDNA is subject to U.S. regulatory oversight by the CFTC.
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