Fintech-Based ProphetX Scores $35M in Funding Round

The round also saw participation from FDJ Ventures, Greenwave Ventures, Connexa Capital, Impellent Ventures, the Operating Group, and Sharp Alpha Advisors, as well as Chicago Trading Company Ventures, Belvedere Trading, principals at White Swan Data, principals at Consolidated Trading, and Ematiq.

The company will use the funding to speed up product development, increase liquidity across its markets, and expand its B2B platform and partner network.

Read More:CleanTech-Based Ameresco Appoints Brian Cox to Board of Directors

ProphetX previously operated as a sweepstakes platform before becoming a federally regulated prediction market. Following a successful FIFA World Cup, the company reported a 50% increase in active users and platform assets within its first 30 days.

ProphetX aims to triple its trading volume in 2026 by expanding B2B partnerships, adding more institutional markets, and growing its Request for Quote (RFQ) Parlay Mechanism. The new funding will help the company strengthen its position in the fast-growing B2B event contracts market.

ProphetX works differently from traditional sportsbooks. Instead of the company taking the opposite side of every bet, users trade directly with each other, set their own prices and pay a small, transparent commission.

The platform also includes an RFQ Parlay Mechanism, which lets users create and price multi event trades with other participants. This system is based on trading methods used in financial markets, offering greater flexibility, transparency and competitive pricing.

"We are excited to support Dean and the ProphetX team with additional capital to accelerate their next phase of growth as America's first federally regulated, sports-native prediction market," said Greg Buonocore, CEO and Managing Partner at Parlay Capital Holdings. "ProphetX is building the industry-leading infrastructure that will define how everyday Americans and institutional investors alike participate in sports prediction markets."

"ProphetX has established itself as a pioneer in the prediction markets ecosystem, and we are thrilled to participate in this funding round," said Scott Savitz, Founder and Managing Partner of Data Point Capital. "The company's innovative approach, combined with its recent CFTC approval and increasing interest in event-based markets, positions it well for long-term growth.

About ProphetX

Founded in 2018 by Dean Sisun and Jake Benzaquen, ProphetX is the first sports focused prediction market in the United States. It operates as a regulated exchange where people can trade contracts based on the outcome of sports and other events. The company's goal is to build a trusted and innovative marketplace where anyone can participate in event-based predictions.

Read More:AI Startup Freight Hero Scores $5M in Seed Funding