This startup operates a peer-to-peer sports prediction exchange that utilizes high-frequency trading algorithms to facilitate real-time betting on sports outcomes. By enabling users to place and adjust bets rapidly, the platform addresses the inefficiencies of traditional sports betting markets, enhancing liquidity and user engagement.
Funding
$31.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
CTMINCFounders
Product
Problem
Traditional sportsbooks set fixed odds and retain the house edge, which limits bettors’ potential returns and forces them to accept suboptimal pricing. Additionally, payouts are often delayed, and users cannot create custom markets or set their own odds, restricting flexibility for both casual fans and professional traders.
Solution
ProphetX operates a peer‑to‑peer sports prediction exchange that matches users directly against one another rather than against a bookmaker. Participants can propose their own odds, create bespoke markets for player props or game outcomes, and accept offers from counterparties in real time. Because the platform eliminates the house margin, users typically receive odds that are 20% better than those offered by major sportsbooks, leading to higher profitability rates. Trades are settled instantly via integrated banking, debit‑card, and emerging crypto payment rails, ensuring near‑real‑time payouts. The system complies with the U.S. sweepstakes model, allowing legal operation in over 40 states while providing a transparent order‑book and match‑making engine for efficient market liquidity.
Target Audience
The primary customers are U.S. sports bettors—both casual fans and professional traders—seeking better odds, market customization, and instant payouts, as well as market makers who provide liquidity on the platform.
Features
- Decentralized order‑book matching engine that pairs users’ bids and offers without a house intermediary
- User‑generated market creation tools enabling custom player‑prop and event‑specific contracts
- Dynamic odds setting where participants define line values and risk parameters before trade execution
- In‑play (live) betting interface with sub‑second latency for real‑time market adjustments during events
- Instant settlement pipeline supporting ACH, debit cards, and cryptocurrency (Bitcoin, Ethereum) payouts
- “Prophet Points” virtual currency allowing risk‑free practice trades and market exploration
- Comprehensive sport coverage (NFL, NBA, MLB, NHL, college, MMA/UFC, soccer, tennis, golf, etc.) with continuous expansion based on demand
- Compliance framework under the free‑to‑play sweepstakes model, ensuring legality across 40+ U.S. states