Hollywood.com Enters Buzzing Prediction Market Arena With Crypto.com Partnership

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

Entertainment website Hollywood.com has said it is partnering with cryptocurrency exchange Crypto.com to launch a prediction market feature.

“Partnering with Crypto.com, we’re launching the first prediction platform dedicated entirely to movies, TV, video gaming, Broadway, pop culture, and celebrities,” Hollywood.com Co-CEO Mitchell Rubensteinsaid on Monday. “Imagine predicting reality show and award show winners, or whether a musical artist will reach #1 on the charts—we’re giving fans a voice in predicting the moments that define entertainment.”

Don't Miss:

Forget Flipping Houses—This Fund Lets You Invest in Home Equity Like Wall Street Does Wall Street's $12B Real Estate Manager Is Opening Its Doors to Individual Investors — Without the Crowdfunding Middlemen

The Hollywood.com prediction market event contracts would be provided by Crypto.com Derivatives North America, a Commodity Futures Trading Commission-registered subsidiary of the exchange, Hollywood.com said.

Rubenstein told Benzinga that Hollywood.com and Crypto.com are working on the technical integration of the feature, adding that the product should launch in about two months. He also said that Hollywood.com users would not need to use Crypto.com’s native token CRO to interact with the prediction market.

Hollywood.com’s prediction markets would differentiate itself from entertainment markets on popular platforms like Polymarket by having a “broader range of questions” and “deep analysis and insights,” Rubenstein told Benzinga.

Trending: 7 Million Gamers Already Trust Gameflip With Their Digital Assets — Now You Can Own a Stake in the Platform

“Run by entrepreneurs with a deep experience in the entertainment space, and we will bring in experts in the categories of the questions,” he said. “Users will experience a blend of a utilitarian predictive trading platform and an entertainment site – essentially a ‘level up’ from the experience on Kalshi and Polymarket. And we will not have sports, politics and economics, so as to be focused.”

Hollywood.com’s announcement follows Crypto.com’s partnership with Trump Media Technology Group (NASDAQ:DJT) to launch a prediction market feature for Truth Social.

See Also: Missed Nvidia and Tesla? RAD Intel Could Be the Next AI Powerhouse — Invest Now at Just $0.81 a Share

Sports betting platforms DraftKings (NASDAQ:DKNG) and FanDuel have also recently announced plans to launch their own prediction markets.

The prediction market rush comes as market leaders Polymarket and Kalshi have smashed new records in activity and volume in recent months.

Story Continues

Prediction markets burst into the mainstream during last year’s presidential election, attracting billions in bets and mentions alongside traditional polls.

Read Next: If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it?

Image: Shutterstock

This article Hollywood.com Enters Buzzing Prediction Market Arena With Crypto.com Partnership originally appeared on Benzinga.com

View Comments