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ProphetX said it has completed a $35 million financing round, with Parlay Capital and Data Point Capital leading the raise.
The company, described as a CFTC-designated sports prediction market, said the new capital will be used to expand product development, improve market liquidity, and grow its B2B trading infrastructure sales business. The source also said several venture capital and proprietary trading firms participated in the round, though those firms were not identified.
ProphetX said it has federal regulatory approval and has launched nationwide in the United States. It also said it is targeting a tripling of trading volume by 2026.
For readers tracking the broader betting and prediction-market space, the financing stands out less for consumer-facing changes today and more for where ProphetX says it plans to invest next. Product development and liquidity are core parts of how event-based markets function, while B2B infrastructure points to a broader push beyond its own platform.
The source framed the deal as part of a wider shift of capital into regulated prediction markets tied to events, while unlicensed competitors face pressure. That makes this a notable funding update in a segment that continues to draw attention from investors and regulators alike.
What remains unclear is the exact structure of the financing, which specific additional firms joined the round, and what specific federal approvals the company is referring to beyond the source’s description. Those details were not provided in the report.
For players and market watchers, the practical takeaway is simple: ProphetX says it now has fresh capital to build out its regulated offering and trading infrastructure, but no new product launches or customer-side changes were detailed in the announcement.
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Source: As reported by ababnews.com.
