Crypto.com has entered the U.S. prediction market arena through a strategic partnership with High Roller Technologies (NYSE: ROLR), a publicly traded online casino operator. The collaboration will leverage Crypto.com's CFTC-registered platform, Crypto.com | Derivatives North America (CDNA), to distribute event-based contracts covering finance, sports, and entertainment. This marks the first major foray by a traditional gambling operator into the regulated prediction market space.
High Roller to Act as CFTC-Registered Introducing Broker
Under the definitive agreement announced Monday, High Roller will register as a CFTC Introducing Broker and direct its user base to Crypto.com's futures commission merchant. High Roller CEO Seth Young stated the company had been preparing its product and logistics "over the past several months," calling the deal a "significant milestone." Crypto.com co-founder and CEO Kris Marszalek praised High Roller for bringing "a premium brand, strong online expertise, and an established customer-facing platform."
Market Surge: Stock Doubles, Trading Volume Soars
Investors responded enthusiastically. High Roller shares surged from a prior close of $5.09 to an intraday high of $11.74, eventually closing near $8 — still a gain of over 57%. Trading volume hit 55.4 million shares, more than 360 times the daily average. The market clearly sees prediction markets as a high-growth vertical.
Trillion-Dollar Opportunity
Third-party estimates cited by EKG Analytics and NEXT.io suggest the mature U.S. prediction market could exceed $1 trillion in annual trading volume. TRM Labs data shows monthly volumes on prediction platforms have already rocketed from $1.2 billion in early 2025 to over $21 billion. Crypto.com's CDNA is one of the few CFTC-registered exchanges in this space, competing with Kalshi, which controls roughly 89% of the market. Robinhood entered last year via a Kalshi partnership but selectively excluded certain contract types due to insider trading concerns.
Regulatory Crosscurrents
The partnership comes amid intense legal uncertainty. On April 10, a federal judge blocked Arizona's first criminal prosecution of a prediction market operator, ruling that CFTC's federal law preempts state gambling statutes. However, courts elsewhere have ruled against prediction platforms. Kalshi filed a separate federal suit against Montana on April 12, expanding the multi-state legal battle. High Roller plans to release further details on product positioning, launch timing, and marketing partnerships in the coming weeks.