Shares of High Roller Technologies Inc. (ROLR) more than doubled after the online casino operator announced plans to introduce an event-based prediction market in the United States in collaboration with Crypto.com.
The Las Vegas-based company announced Tuesday that it will initially offer Crypto.com Derivatives North America (CDNA) event contracts to its clients in the United States in the areas of finance, sports and entertainment. CDNA is a CFTC-registered exchange and clearinghouse affiliated with Crypto.com. It was not specified when the planned market would begin operating.
The company’s shares have risen as much as 130% and recently rose 65% to $8.32. Crypto.com’s CRO token gained 3% after the announcement to 7 cents.
Prediction markets have quickly evolved from niche betting platforms to a growing sector of sophisticated trading platforms that aggregate probabilities of real-world events. Major participants include Kalshi, a US event-driven contracts exchange regulated by the CFTC, and Polymarket, one of the largest decentralized markets covering politics, sports and economics. The market is expected to become one with a trading volume exceeding $1 trillion by 2030, according to High Roller.
Prediction markets are showing an annualized revenue rate of more than $3 billion, up from about $2 billion in December, and could reach $10 billion by 2030, according to a recent report from US bank Citizens.
