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High Roller Technologies announced today that it signed a deal with Crypto.com to enter the U.S. prediction markets space. The company’s shares surged more than 100% from about $5 to nearly $11 on Tuesday before pulling back roughly 45% to trade near $6.38 at press time.
The company said it executed a definitive agreement with Crypto.com Derivatives North America that will allow High Roller to launch an event based prediction markets offering, initially in the United States. The planned offering will cover finance, sports, and entertainment, marking a strategic expansion beyond the company’s online casino brands High Roller and Fruta.
High Roller said the agreement creates a new growth opportunity as regulated event contracts gain traction in the U.S. The company also cited third party estimates suggesting a mature domestic market could exceed $1 trillion in annual trading volume.
Crypto.com CEO Kris Marszalek said the two companies believe they can expand access to regulated event contracts in the United States through a scalable offering. High Roller CEO Seth Young said the company had spent recent months preparing its product and logistics for the move into prediction markets.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
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