Shares of High Roller Technologies, Inc. (ROLR) more than doubled after the online casino operator announced plans to partner with Crypto.com to bring an event-based prediction market to the United States.
The Las Vegas-based company announced Tuesday that it will initially offer customers Crypto.com Derivatives North America (CDNA) event contracts in the United States across finance, sports and entertainment. CDNA is a CFTC-registered exchange and clearinghouse and an affiliate of Crypto.com. He did not say when the planned market would begin operations.
The company’s shares have soared by as much as 130% and were recently up 65% to $8.32. Crypto.com’s CRO token rose 3% to 7 cents after the announcement.
Prediction markets have rapidly moved from niche betting platforms to a growing field of sophisticated trading platforms that aggregate probabilities of real-world events. Key participants include Kalshi, a CFTC-regulated US event contract exchange, and Polymarket, one of the largest decentralized markets covering politics, sports, and economics. According to High Roller, this market is expected to mature to over $1 trillion in transaction volume by 2030.
A recent report from U.S. bank Citizens said annual returns on prediction markets could reach more than $3 billion, up from about $2 billion in December, and $10 billion by 2030.
