Crypto.com has partnered with casino firm High Roller Technologies to launch a U.S. prediction markets offering, challenging platforms like Kalshi and Polymarket. The event contracts will be offered via a CFTC-registered exchange. This move follows Binance’s similar integration and taps into a market projected to reach $1 trillion by 2030. High Roller’s stock price more than doubled following the announcement.
Crypto.com has signed a definitive agreement with online casino company High Roller Technologies as part of its move into prediction markets. The deal allows the crypto exchange to launch an event-based prediction markets offering to U.S.-based users, according to a notice from High Roller. The contracts will be offered via CDNA, a Commodity Futures Trading Commission-registered exchange.
“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 exchange’s move targets a market that could become a $1 trillion market by 2030.
High Roller’s stock price on the NYSE American more than doubled to $10.77 following the announcement. This expansion occurs as U.S. state gaming authorities crack down on prediction markets, even as the CFTC and platforms like Kalshi claim federal commodities laws preempt state laws.
Analysts at wealth management firm Bernstein stated that sports bets are not the endgame for prediction markets. They expect the share of sports-based event contracts to fall from about 62% to 31% by 2030 as other markets take over.
“We expect the institutional market to develop around economics, business and political contracts, as investors seek more direct and discrete exposure to events,” said the Bernstein analysts. They also anticipate hedging demand from corporates and insurance firms exposed to event risks.
