Plaee and Crypto.com have inked a partnership to launch a CFTC-compliant prediction market technology infrastructure.
By Godfrey Benjamin
Editor Hamza Tariq
Updated
2 mins read
Plaee, a company offering technology platforms for iGaming operators, has inked a strategic partnership with Crypto.com.
Together, these firms plan to establish a prediction market technology infrastructure that is compatible with the United States Commodity Futures Trading Commission (CFTC) standard.
As part of the collaboration between Plaee and Crypto.com, the former’s technology will be used to onboard and serve operators.
This includes fintech platforms and traditional trading brokers offering federally regulated event-based trading to customers in the US.
There would also be a native integration of Crypto.com’s institutional liquidity and regulatory framework.
Its fusion into Plaee’s CRM and retention engines will serve as a bridge between entertainment technology and financial markets.
Based on past sentiment, the U.S. prediction market sector is projected to reach $1 trillion in trading volume in a few months.
It is gradually moving towards this projection, and the demand for compliant, liquid, and user-friendly technology platforms is also growing, currently resting at an all-time high (ATH).
The recent alliance between Plaee and Crypto.com is designed to address this situation. It provides a “plug-and-play” API-first architecture that allows operators to offer advanced prediction market technology infrastructure within weeks.
This cuts across sports, politics, and macroeconomics. Plaee is leveraging Crypto.com’s position as a regulated entity to ensure that all customers become members of the DCM.
Also, trades executed through Plaee’s technology can now meet the highest standards of regulatory compliance.
Leon Okun, CEO of Plaee, noted that partnering with Crypto.com presents an avenue to remove the three biggest hurdles for operators: regulatory complexity, liquidity, and time-to-market.
Crypto.com has been bagging several partnership deals in the last few weeks. In the first week of January, Crypto.com partnered with Stripe to bring cryptocurrency payments into everyday online shopping in the United States. This was a means to give customers a way to pay directly with their digital assets.
More recently, Crypto.com entered into a partnership deal with High Roller Inc., to deliver event-based prediction markets in the US.
The rollout was quite strategic as it caused ROLR stock to spike nearly 490%.
It focuses on developing and serving trade event contracts across markets, including finance, entertainment, and sports, with contracts offered via Crypto.com Derivatives North America (CDNA).
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
