High Roller signs ProphetX deal but ROLR access awaits approvals

High Roller Technologies has signed a commercial agreement to bring access to ProphetX’s sports-focused prediction-market exchange to its ROLR platform, subject to regulatory registrations, approvals and other conditions that have not yet been met.

Under the definitive agreement announced Nov. 12, the planned service would present ProphetX event contracts through a ROLR-branded interface for eligible customers. ROLR is to receive a portion of the net fees generated by traders who access the exchange through that interface, according to the company.

The agreement follows ROLR’s commercial launch to eligible U.S. customers on Oct. 21, as we reported last month. At that launch, ROLR offered event-based contracts from Crypto.com | Derivatives North America; customer accounts introduced through the platform are carried by Crypto.com FCM.

The ProphetX offering is not yet available. ROLR FCM LLC was not registered as a futures commission merchant with the Commodity Futures Trading Commission, or a member of the National Futures Association, when the agreement was announced. Access will depend on obtaining or satisfying all applicable registrations, approvals and conditions, and will remain subject to ProphetX rules, eligibility standards and applicable law.

High Roller created ROLR FCM LLC on Nov. 11 in connection with its interest in seeking FCM registration. At that point, the subsidiary had not filed an application with the NFA and was not authorised to operate as an FCM. It also engaged Connamara Technologies to assess the technology and operating requirements for a potential event-contracts-focused FCM, including customer onboarding, fund segregation, margin and risk management, clearing connectivity, and regulatory reporting.

ProphetX operates a CFTC-registered U.S. prediction-markets exchange and clearing organisation. Its infrastructure is designed to let consumer platforms incorporate its event contracts while ProphetX performs exchange and clearing functions. The marketplace, founded in 2018, lets participants trade contracts on event outcomes at prices set by market participants.

The company said the integration is intended to widen ROLR’s market selection and create an additional revenue opportunity. Trading event contracts carries substantial risk, including the possibility of losing the full amount committed to a position.