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Hacksaw Gaming doesn’t want to be the next Kalshi or Polymarket. It wants to build the plumbing for whoever does.
The Stockholm-listed game developer launched a B2B prediction markets platform Thursday. Operators plug into Hacksaw’s technology and offer prediction markets under their own brand. No building it from scratch.
The Malta Gaming Authority signed off first. It extended Hacksaw’s B2B Critical Gaming Supply License to cover Type 3 Gaming Services, on top of the Type 1 authorization the company already held. Per Hacksaw, that extension authorizes B2B peer-to-peer prediction market services under the MGA’s framework.
Peer-to-peer is the key phrase. Traders take positions against each other, not against the house.
How Hacksaw’s prediction markets platform works
Most US players know Hacksaw for slots. Its games are live at online casinos in states including New Jersey, Pennsylvania and West Virginia.
Prediction markets are a different animal. And Hacksaw is pitching itself as the supplier, not the storefront.
In an email announcing the launch, the company described itself as “the technology and infrastructure provider that enables operators to participate in the category while maintaining ownership of their brands and customer relationships.”
So the operator keeps the customer. Hacksaw runs what’s underneath.
The more interesting piece is what Hacksaw calls a connected volume framework. It’s designed to pool peer-to-peer participation across Hacksaw’s network of operators.
That matters more than it sounds. A peer-to-peer market with nobody on the other side of the trade isn’t much of a market. Hacksaw said the setup lets operators tap broader capacity from launch instead of building it on their own.
As Marcus Cordes, operational CEO of Hacksaw Gaming, said in the release:
“We have created a solution that enables operators to access prediction market capabilities efficiently and at scale … We see significant potential to help operators participate in this growing category through a solution designed specifically for their needs.”
Why is a slot developer moving into prediction markets?
The timing isn’t subtle.
Three days earlier, Hacksaw said its third-quarter revenue growth came in below its historical pace. The company expects revenue of about 57.5 million to 58.5 million euros for the quarter, up from 52 million euros a year earlier. It blamed softer market conditions and game performance.
That same update said Hacksaw is “exploring new verticals.” The first one was a crash game launched late in the quarter.
Prediction markets are the bigger swing. Hacksaw pointed to a Bernstein estimate that annual prediction market trading volume could reach about $1 trillion by 2030. Management views the category as a natural extension of its technology platform and a new growth vertical, the company said.
All built within its existing cost base, according to Hacksaw. This makes it a cheap swing, too.
Ana Vrabic Verdir, group CEO of Hacksaw Group, said in the release:
“Prediction markets represent a compelling new opportunity at the intersection of technology, entertainment and market participation. We believe our existing platform, distribution capabilities and operator relationships position us exceptionally well to help businesses participate in this category.”
What it means for prediction markets in the US
Not much, yet.
The approval comes from Malta. Hacksaw’s announcement doesn’t name a US market, a US partner or a US regulator. Here, Kalshi and Polymarket operate as exchanges regulated by the Commodity Futures Trading Commission, a different setup from an MGA supply license.
Hacksaw also didn’t name any operators signed to the platform or say when the first one goes live.
Its next interim report is due Nov. 3. That’s the next scheduled chance to hear who, if anyone, is plugging in.
If someone does, you probably won’t see Hacksaw’s name on the app.
That’s the thing about plumbing. When it works, nobody notices it.
