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Plaee and Crypto.com Partner to Launch CFTC-Compliant Prediction Markets
Plaee and Crypto.com Partnership Overview
- Plaee has partnered with Crypto.com to create a CFTC-compliant prediction market technology infrastructure in the US.
- The collaboration will enable onboarding and servicing of operators, including fintech platforms and trading brokers, for federally regulated event-based trading.
- Crypto.com's liquidity and regulatory framework will integrate with Plaee’s CRM and retention systems, bridging entertainment tech with financial markets.
Market Potential and Technological Integration
- The US prediction market sector is projected to reach $1 trillion in trading volume soon, indicating high demand for compliant and user-friendly platforms.
- The partnership offers a "plug-and-play" API-first architecture for operators to deploy advanced prediction market tech quickly across various sectors.
- Plaee will use Crypto.com’s regulatory status to ensure all customers meet DCM membership standards.
Strategic Impact and Comments
- Leon Okun, CEO of Plaee, highlighted the partnership’s potential to simplify regulatory complexity, enhance liquidity, and reduce time-to-market for operators.
Crypto.com's Recent Strategic Moves
- Crypto.com has formed several partnerships recently, including one with Stripe to facilitate cryptocurrency payments in US online shopping.
- A partnership with High Roller Inc. led to a significant spike in ROLR stock, focusing on delivering event-based prediction markets in finance, entertainment, and sports through Crypto.com Derivatives North America.