High Roller Rolls the Dice on Prediction Markets, Stock Doubles Like It's on a Heater

High Roller Technologies (ROLR) shares surged as much as 130% after the Las Vegas-based online casino operator announced plans to launch a U.S. event-based prediction market in partnership with Crypto.com.

The platform will initially offer Crypto.com Derivatives North America (CDNA) event contracts across finance, sports and entertainment. CDNA is a CFTC-registered exchange and clearinghouse affiliate of Crypto.com. No launch date was disclosed.

Shares were recently trading 65% higher at $8.32. Crypto.com's CRO token gained 3% to 7 cents following the announcement.

The prediction market sector is heating up. Currently generating more than $3 billion in annualized revenue—up from about $2 billion in December—the industry could exceed $1 trillion in trading volume and $10 billion in revenue by 2030, according to a recent report by Citizens bank.

Leading participants include Kalshi, a CFTC-regulated U.S. exchange for event contracts, and Polymarket, one of the largest decentralized markets covering politics, sports and economics.

The announcement comes as an increasing number of companies pivot into prediction markets, which have evolved from niche betting platforms to sophisticated trading platforms aggregating real-world event probabilities.