As part of its entry into prediction markets, Crypto.com has reached a final agreement with online casino startup High Roller Technologies, challenging firms like Kalshi and Polymarket.
High Roller announced on Tuesday that the agreement with Crypto.com will enable the cryptocurrency exchange to introduce “an event-based prediction markets offering” to users in the United States.
At a time when US state gaming authorities are cracking down on prediction markets, the announcement highlighted that the event contracts would be offered through CDNA, an exchange regulated with the Commodity Futures Trading Commission (CFTC).
High Roller CEO Seth Young stated, “We think 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.”
The most recent example of a cryptocurrency exchange trying to get into what might grow to be a $1 trillion business by 2030 is Crypto.com’s entry into prediction markets. Through a partnership with Predict, Binance added comparable functions to its wallet app last week. Fun is a BNB Chain prediction market platform.
After the news, the price of High Roller’s (ROLR) stock on the NYSE American more than doubled, rising from $5.20 to $10.77.
Although the CFTC and prediction markets such as Kalshi have argued in court that state gaming prohibitions are superseded by federal commodities regulations, the companies are nevertheless facing legal challenges in several jurisdictions.
Source: X.com
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