ProphetX raises $35M to build B2B sports prediction markets
What's the deal? ProphetX, a Commodity Futures Trading Commission (CFTC)-designated sports prediction market, has raised $35 million in new funding, chief executive officer Dean Sisun told Axios Pro. The round was led by Parlay Capital HoldingsDealroom has a profile for this one. Try Dealroom → and Data Point CapitalDealroom has a profile for this one. Try Dealroom →, with participation from FDJ VenturesDealroom has a profile for this one. Try Dealroom →, Greenwave Ventures, Connexa Capital, Impellent VenturesDealroom has a profile for this one. Try Dealroom →, the Operating Group and Sharp Alpha AdvisorsDealroom has a profile for this one. Try Dealroom →. Chicago Trading Company Ventures, Belvedere Trading and Ematiq, among others, made direct investments.
What's the endgame? ProphetX wants to expand distribution and deepen liquidity beyond consumers. It plans to do so by offering its exchange infrastructure to partners, and is targeting a tripling of trading volume in 2026 driven by B2B partnerships and expanded institutional market coverage.
The signal: The B2B pivot reflects a bet that the value in prediction markets lies in the underlying infrastructure — not just the consumer-facing app. By opening its exchange to partners, ProphetX is positioning itself as a platform other players can build on.
Read more: Axios · PR Newswire
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