Plaee has announced a strategic partnership with Crypto.com’s U.S. derivatives division, launching a cutting-edge prediction market technology platform designed to meet the rigorous standards set by the Commodity Futures Trading Commission (CFTC). This collaboration aims to cater to operators, fintech entities, and trading brokers as the industry anticipates reaching a staggering $1 trillion in trading volume.
In a statement, Plaee outlined that the agreement effectively merges Crypto.com’s institutional liquidity and robust regulatory framework with Plaee’s customer relationship management (CRM) systems and retention technology. This integration results in an API-first, “plug-and-play” infrastructure that empowers operators to quickly introduce event-based trading products encompassing various sectors such as sports, politics, and macroeconomics within a matter of weeks.
The new platform aims to eliminate significant barriers for operators by streamlining regulatory compliance, ensuring access to substantial liquidity, and reducing the time required for deployment. Leon Okun, CEO of Plaee, expressed that the partnership alleviates three primary challenges faced by operators: navigating regulatory complexities, sourcing liquidity, and achieving timely market entry.
Crypto.com boasts a designated contract market status with the CFTC, meaning that all end-users involved in trades will automatically become members of the DCM. The partnership guarantees that transactions executed via Plaee’s platform adhere to the highest regulatory standards, thereby enhancing trust and reliability in the trading process.
Travis McGhee, Global Head of Predictions at Crypto.com, emphasized that this collaboration enables the firm to extend its institutional infrastructure to a broader range of operators, reinforcing its leadership position in the industry.
The integration boasts several key features, including CFTC-licensed event contracts, direct access to liquidity pools for rapid execution, and streamlined onboarding processes supported by AI-powered retention tools. This comprehensive setup positions both Plaee and Crypto.com at the forefront of innovation in the prediction market landscape, as they look to serve increasing demand in the evolving trading environment.
