Prospect Prediction Markets has expanded its US prediction markets infrastructure after subsidiary Prospect Trading USA became a member of Crypto.com Derivatives North America (CDNA).
The membership gives Prospect Trading direct access to the exchange as Prospect Markets develops its Institutional Trading division and prepares its broader entry into US sports-focused prediction markets.
CDNA operates as both a CFTC-designated contract market and registered derivatives clearing organisation. The exchange traces its regulatory status to HedgeStreet, which was designated in 2004 before becoming Nadex and later being acquired by Crypto.com parent Foris DAX Markets. Its permissions were expanded in 2025 to cover margined derivatives alongside fully collateralised products.
The latest step builds on Prospect Markets’ July non-binding letter of intent with Crypto.com-related futures commission merchant OG Broker. That proposed arrangement included clearing through OG Broker and access to sports event contracts offered through CDNA, with Prospect targeting a Q3 2026 US launch.
Prospect Markets has also been developing Gravity with Intellistake Technologies. The system is designed as a liquidity and execution layer for prediction markets, with Prospect Markets holding a two-year exclusivity licence to integrate the technology into its platform.
Prospect Markets Founder and CEO, Johnny Chen, said: “Membership on an exchange of this pedigree is an important milestone for Prospect. It supports the buildout of our Institutional Trading division and deepens our role in the US prediction markets ecosystem as it continues its rapid growth.”
Institutional involvement in the segment is widening. Cantor Fitzgerald launched prediction market trading for institutional clients this month through Kalshi, with Susquehanna Predictions providing pricing and liquidity. Bernstein has estimated annual prediction-market trading volumes could reach $1tn by the end of the decade.
However, sports event contracts continue to face regulatory disputes. New York sued Kalshi in July, arguing that its contracts constitute gambling requiring state licensing, while Kalshi maintains that CFTC oversight pre-empts state gambling regulation. Similar disputes have emerged across several states.
In July, SEGG Media also expanded its alternative wagering and affiliate strategy through an International Gaming Alliance partnership, with Lottery.com shifting towards an affiliate-led model across Latin America and Canada.
CDNA was originally designated as a US contract market in 2004 under the HedgeStreet name before later operating as Nadex and being acquired by Foris DAX Markets
