Crypto.com has partnered with High Roller Technologies (NYSE: ROLR), a New York Stock Exchange-listed online casino operator, to launch event contracts in the U.S. prediction market. The move adds another major player to a sector that has experienced explosive growth but faces escalating regulatory challenges.
Deal Details: CFTC-Regulated Contracts via Casino Platform
Under the agreement announced Monday, event contracts from Crypto.com | Derivatives North America (CDNA) — a CFTC-registered contract market and derivatives clearing organization — will be distributed through High Roller's customer-facing platform. High Roller plans to operate as a CFTC-registered Introducing Broker and establish a relationship with Crypto.com's CFTC-registered Futures Commission Merchant.
The partnership marks High Roller's first expansion beyond traditional online casino operations. The Las Vegas-based company runs the high roller and Fruta casino brands, offering over 6,000 games from more than 90 providers. High Roller's stock more than doubled intraday on Monday, surging from the prior close of $5.09 to a session high of $11.74, before closing around $8 on volume of 55.4 million shares — more than 360 times its average daily volume.
Crypto.com co-founder and CEO Kris Marszalek said High Roller brings a “premium brand, strong online expertise, and an established customer-facing platform.” High Roller CEO Seth Young called the deal a “significant milestone” and added that the company has been preparing its product and logistics “over the past few months.”
Market Opportunity: Potential $1 Trillion Annual Volume
The agreement cites third-party forecasts based on an EKG analysis projecting that the mature U.S. prediction market opportunity could exceed $1 trillion in annual transaction volume. According to TRM Labs, monthly trading volumes on prediction platforms have surged from $1.2 billion in early 2025 to over $21 billion.
CDNA is one of a handful of CFTC-registered exchanges competing for market share alongside Kalshi, which controls about 89% of the U.S. prediction market, according to a Bank of America report cited by CoinDesk. Robinhood entered the sector last year via a Kalshi partnership but selectively excluded certain contract types over insider trading concerns.
Regulatory Uncertainty: Federal vs. State Battles
The partnership comes amid serious legal uncertainty for the prediction market industry. On April 10, a federal judge blocked Arizona from proceeding with the first criminal case against a prediction market operator, ruling that the CFTC is likely to succeed in its argument that federal law preempts state gambling statutes. However, courts elsewhere have ruled against prediction platforms, and a separate federal lawsuit by Kalshi against Montana was filed on April 12, expanding the multi-state legal fight.
High Roller said it plans to provide updates on product details, brand positioning, launch timing, and marketing partnerships in the coming weeks.