Crypto.com has signed a definitive agreement with online casino company High Roller Technologies as part of the cryptocurrency exchange’s move into prediction markets, positioning itself against platforms like Kalshi and Polymarket.
High Roller said the deal would allow Crypto.com to launch “an event-based prediction markets offering” to US-based users, with event contracts to be offered via CDNA, a Commodity Futures Trading Commission (CFTC)-registered exchange. The announcement comes amid heightened scrutiny from US state gaming authorities over prediction markets. “We believe this partnership gives us a strong starting position in a market with meaningful long-term potential, and we’re confident in our ability to deliver,” said High Roller CEO Seth Young.
The move is the latest example of crypto exchanges entering a market some analysts expect could grow to $1 trillion by 2030. Binance recently integrated similar prediction features into its wallet app through an arrangement with Predict.fun, a prediction market platform on the BNB Chain.
High Roller’s (ROLR) stock more than doubled on the NYSE American following the announcement, rising to $10.77 from $5.20.
While the CFTC and firms such as Kalshi have argued in court that federal commodities law preempts state gaming laws, prediction market companies continue to face legal challenges in multiple jurisdictions. Cointelegraph sought comment from High Roller but did not receive an immediate response.
Bernstein analysts noted that while sports-focused event contracts are a common entry point for users, they are likely not the long-term focus. Bernstein projects the share of sports-based contracts on prediction platforms could fall from about 62% to 31% by 2030 as markets for economics, business and political contracts expand. “We expect the institutional market to develop around economics, business and political contracts, as investors seek more direct and discrete exposure to events,” the analysts said, adding they expect hedging demand from corporates and insurance firms exposed to specific event risks.
The expansion of prediction markets has also raised ethical and regulatory questions, including debates over whether users should be allowed to bet on topics such as war and death.
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