PredictArena launches creator-focused prediction market with Crypto.com relationship

PredictArena has launched a creator-focused prediction-market platform and entered an introducing-broker relationship with Crypto.com | Derivatives North America, or CDNA. The web-based service is intended to give creators, sports handicappers and former athletes a place to publish predictions and engage audiences around subjects they follow.

The company said creators can create profiles, share their views and participate economically while connecting their communities with relevant markets. Austin Pfenninger, PredictArena’s founder and chief executive, said the company regarded creators as a powerful internet distribution channel and prediction markets as a new way to engage their audiences.

Under the relationship, PredictArena will draw on CDNA’s markets and exchange expertise while building a distribution layer aimed at the creator economy. Pfenninger said the arrangement allowed the company to focus on bringing prediction markets into that audience.

CDNA is one of the brands used by North American Derivatives Exchange, Inc., according to Trading Technologies. The exchange is registered with the Commodity Futures Trading Commission as a designated contract market and derivatives clearing organization, and offers prediction-market contracts directly and through intermediaries including introducing brokers and futures commission merchants.

The CFTC says the exchange was originally designated in 2004 as HedgeStreet. It became NADEX after IG Group acquired it in June 2009, and Foris DAX Markets acquired NADEX in March 2022. The designated contract market subsequently also did business under the Crypto.com name.

PredictArena said its platform is available on the web. An app is scheduled for release in the coming weeks.