ProphetX, a CFTC-regulated sports prediction market, raised $35 million in new funding. The platform is simultaneously building a B2B business selling its exchange infrastructure to other companies.
ProphetX operates as a federally designated sports prediction market under CFTC oversight, enabling users to trade on sports outcomes. The funding round reflects investor confidence in both the direct-to-consumer platform and its emerging infrastructure-as-a-service model.
The dual strategy positions ProphetX to capture revenue streams from retail prediction traders while also licensing its exchange technology to partners. This B2B approach mirrors patterns seen in other fintech and exchange platforms seeking to scale beyond their core user base.
The CFTC designation provides ProphetX with regulatory clarity in a sector where legal status remains contested in many jurisdictions. The agency has designated a limited number of sports prediction markets, distinguishing them from illegal gambling operations.
CEO Dean Sisun confirmed the funding details. The company's expansion into enterprise software sales signals ambitions beyond operating a single betting platform.
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Singapore-based AI infrastructure startup Acrab raised $130 million in Series B funding, surpassing $480 million in total capital raised. The round was backed by existing investors including Vertex Ventures.
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