High Roller Technologies (NYSE: ROLR) has signed a definitive commercial agreement with ProphetX to give ROLR customers access to the sports-focused prediction markets exchange. The deal was signed by its subsidiary ROLR FCM LLC and announced on 12 November.

Eligible users would view ProphetX market data, place orders and manage their ProphetX trading accounts through a ROLR-branded interface. Contracts would cover game results, player performance and season-long championships, with prices set by participants trading with each other.

Who does what

  • ROLR: branding, marketing, customer acquisition and the interface.
  • ProphetX: customer accounts and funds, onboarding, identity checks, trade execution, clearing, settlement and market surveillance.
  • Revenue: ROLR receives a share of the net fees generated by its users.
  • The deal is non-exclusive, so ROLR can connect to other exchanges.

ProphetX is registered with the CFTC as both a designated contract market and a derivatives clearing organisation.

Not live yet

The agreement takes effect six months after ROLR FCM is registered as a futures commission merchant, unless the two sides agree otherwise. ROLR FCM is not yet registered and High Roller says there is no assurance when, or whether, that will happen. No launch date has been set. High Roller set up ROLR FCM only last week, hiring Connamara to scope the build.

What they said

Seth Young, CEO of High Roller, said:

“Our agreement with ProphetX combines additional sports markets with a revenue-sharing structure that allows ROLR to earn a portion of net fees generated by traders accessing ProphetX’s exchange through our interface.”

Jake Benzaquen, Co-Founder and Chief Commercial Officer of ProphetX, said:

“Our infrastructure gives partners a way to bring our event contracts directly into their products, while ProphetX handles the exchange and clearing functions.”

Source: High Roller Technologies.