Hacksaw Launches B2B Prediction Market Platform for Operators

Hacksaw Group is extending its B2B technology business into peer-to-peer prediction markets, giving operators a way to add the format without building the underlying platform themselves. The offer puts Hacksaw in a supplier role: operators would retain the customer-facing business while relying on its systems to support participation and trading. The commercial case is still unproven. Hacksaw hasn’t named customers, shared expected fees or reported a launch schedule, leaving basic questions about demand and economics unanswered.

Operators keep the customer experience

The Stockholm-listed game developer says operators can present prediction markets through their own businesses, keeping their brands, customer relationships and user experiences. That arrangement follows a familiar B2B model: a technology provider supplies the machinery, while the operator controls how the product reaches customers. For operators, outsourcing the platform could reduce the work required to introduce a new format, although the announcement doesn’t specify what integration or operating responsibilities would remain with each partner.

Hacksaw supplies the technology and connects participation across its operator network through what it calls a connected volume framework. In a peer-to-peer market, participation matters because users need counterparties and enough activity for the product to function as intended. Pooling activity across operators could help address that challenge from launch, but the company hasn’t disclosed how the framework works in practice or what level of activity it can support.

That pooled approach is intended to give participating operators access to broader peer-to-peer capacity from launch. The idea is straightforward: a new operator wouldn’t have to build activity entirely from its own customer base. Yet the value of shared capacity depends on actual participation, and Hacksaw hasn’t reported trading volumes or named partners that would show whether the network has reached useful scale. A framework can be technically ready before the market around it is.

Hacksaw says it developed the platform within its existing cost base, though it hasn’t disclosed trading volumes or how the service could affect revenue. That claim suggests the project hasn’t required a separately identified increase in costs, but it doesn’t explain how the company expects to charge operators or when the product could contribute financially. This is more significant than it looks: for a technology supplier, the business case depends not only on building the platform but on attracting operators and generating recurring use.

The Malta Gaming Authority extended Hacksaw’s B2B Critical Gaming Supply License to cover Type 3 Gaming Services, in addition to its existing Type 1 authorization. Hacksaw says the extension permits B2B peer-to-peer prediction-market services under Malta’s framework. The license update is a concrete step in the product’s development, but it doesn’t establish where operators will offer the service or when customers might see it. The company hasn’t said either.

“Prediction markets represent a compelling new opportunity at the intersection of technology, entertainment and market participation,” said Ana Vrabic Verdir, Group CEO of Hacksaw Group. The statement frames the product as an extension of the company’s technology business, rather than a move to operate a consumer-facing exchange. That distinction matters for the commercial model: Hacksaw is pitching infrastructure to businesses that already serve customers.

Market potential remains separate from Hacksaw’s outlook

Hacksaw cited a Bernstein estimate that global prediction-market trading volume could approach $1 trillion annually by 2030 as adoption grows. That figure describes the wider market; it isn’t a forecast for Hacksaw’s platform or its share of activity. A large category estimate can make a market sound attractive, but it says little about whether a particular supplier can win customers, retain them or turn activity into revenue.

The company’s move builds on its work in game development and distribution for large private and state-owned iGaming operators. That experience may give Hacksaw an existing route to potential business customers, since its current work already involves supplying operators. Still, selling a new format requires more than an established relationship: operators must decide the product fits their audiences and commercial plans. If you’re working in this space, the key question is whether Hacksaw can turn that existing operator access into signed partnerships and measurable activity.

Prediction markets let participants trade on the likelihood of future events and outcomes. Their appeal depends on the questions available, the ease of participation and whether enough users are willing to take opposing positions. Hacksaw’s planned role is to provide infrastructure to operators, rather than run a consumer-facing exchange. (And this is the part most people overlook.) The operator may own the customer relationship, but the platform provider still needs a system that can support activity across different businesses without making the product feel disconnected.

Other efforts have linked prediction-market products with established organizations, including a prediction-market product developed with the Tunica-Biloxi Tribe. ReadWrite has also covered infrastructure and products aimed at institutional prediction-market users. These examples show that companies are approaching the category through different partnerships and audiences. They don’t establish that Hacksaw’s model will succeed, but they underline that distribution and the intended user base are central to how these products are being positioned.

What to watch next

For Hacksaw, the next useful signals will be operator adoption and disclosed platform activity or financial results. Named customers would show that the pitch has moved beyond product development; reported activity would help indicate whether the connected volume framework is doing useful work. Fees and revenue contribution would answer a different question: whether the service can become a meaningful business for the supplier.

Until those details emerge, the announcement is best read as a market entry backed by a licensing step and an existing B2B business, with demand still to be demonstrated. The platform may offer operators a quicker route to the format, but the commercial proof will come from participation and customer commitments. That said, the product’s potential scale remains uncertain. Hacksaw’s shares trade on Nasdaq Stockholm under the ticker HACK.

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