Table of Contents
Prospect Prediction Markets Inc. has signed a non-binding letter of intent with Foris DAX FCM LLC, the Crypto.com-related futures commission merchant operating as OG Broker, to bring sports event contracts to US participants through a CFTC-regulated exchange.
The Toronto-listed company (TSXV: MKT, OTCQB: MKTSF) announced the agreement on 7 July. The LOI contemplates a relationship with North American Derivatives Exchange Inc., the Crypto.com affiliate that operates the OG Prediction Markets and Crypto.com | Derivatives North America brands, alongside a clearing relationship through OG Broker. Together, the arrangement would give Prospect Markets the exchange, clearinghouse and brokerage infrastructure it needs to list sports-based event contracts for US users.
What the deal covers
Under the contemplated partnership, Prospect Markets would introduce US participants to event contracts regulated by the Commodity Futures Trading Commission through OG Broker, marking the company’s entry into the US market. The company describes its product ambition as covering everything from major leagues to niche competitions, and puts the addressable US prediction markets opportunity at more than $1tn in annual trading volume. That figure is the company’s own estimate and has not been independently verified.
“This partnership is the moment Prospect goes from vision to reality in the US. Our mission is to make every sports moment tradable, and this gives us the infrastructure to prove it at the scale the American market demands,” said Johnny Chen, founder and CEO of Prospect Markets.
Steve Humenik, Chief Legal Officer of OG and EVP and Global Head of Legal for Prediction and Capital Markets at Crypto.com, framed the deal as part of a wider infrastructure play.
“We are excited to partner with Prospect Markets as they look to enter the growing US prediction market landscape. This partnership underscores our commitment to expanding a compliant digital asset and derivatives ecosystem that offers U.S. participants unparalleled trust and transparency,” Humenik said.
Q3 target, with conditions attached
The parties are targeting a product launch in Q3 2026, subject to the execution of definitive agreements and any applicable regulatory approvals. Prospect Markets was explicit that the LOI is non-binding and that the relationship remains subject to negotiation, definitive documentation and conditions including NFA registration. The company’s own risk disclosure notes there is no assurance the launch will occur as planned.
That caution reflects the structure of the deal. A letter of intent signals commercial direction, not a completed transaction, and the prediction markets sector has seen announced arrangements shift as regulatory positions evolve.
Crypto.com’s growing B2B roster
The agreement extends a pattern that has defined Crypto.com’s prediction markets strategy in 2026: supplying regulated exchange and clearing infrastructure to consumer-facing brands rather than competing purely on its own storefront. FanDuel Predicts added OG Prediction Markets as a second exchange partner in June, alongside founding partner CME Group, in time for the World Cup. DraftKings struck its own Crypto.com partnership earlier in the year, and Fanatics and Underdog have also launched products drawing on Crypto.com-listed contracts.
For Prospect Markets, a company without an existing US footprint, plugging into that stack is a faster route to market than building exchange and clearing capability from scratch. It also places the company in direct competition with far larger platforms. Kalshi, the sector’s volume leader, reported $1bn in Super Bowl trading volume in February, and FanDuel parent Flutter has said it plans to invest between $250m and $300m in FanDuel Predicts during 2026.
A contested regulatory backdrop
Sports event contracts remain legally contested in the US. More than 20 lawsuits are pending across federal and state courts over whether they are federally regulated derivatives or unlicensed sports betting, and rulings have split: the 3rd US Circuit Court of Appeals sided with Kalshi in New Jersey in April 2026, while courts in Massachusetts and Maryland went the other way. State regulators have also moved directly against platforms, as in Nevada’s restraining order against Polymarket.
Whether Prospect Markets converts its LOI into a live product by Q3 will depend on definitive agreements, NFA registration and the direction of a legal question that may ultimately require the US Supreme Court or Congress to settle.
Source: Prospect Prediction Markets Inc.
