ProphetX secures $35M to push for 3x trading volume in 2026
2026-07-31
Source: Yogonet
ProphetX has raised $35 million to expand its B2B operations and boost liquidity, targeting a threefold increase in trading volume in 2026. The federally regulated prediction market has seen early momentum after its transition from a sweepstakes model.
ProphetX has closed a $35 million funding round, with plans to roughly triple its trading volume in 2026 by expanding B2B operations, deepening institutional market coverage, and deploying its proprietary Request for Quote (RFQ) Parlay Mechanism.
The company operates as a federally regulated, sports-focused prediction market rather than a traditional sportsbook. Its peer-to-peer exchange lets users set prices and trade directly with one another for a commission, a structure ProphetX contrasts with single-dealer sportsbooks that profit when bettors lose. The RFQ Parlay Mechanism applies institutional trading protocols from conventional finance, allowing users to create and price multi-event combinations directly with counterparties and supporting transparent pricing and competition.
The raise follows ProphetX's move from a sweepstakes model to a regulated market. After running during the FIFA World Cup in that format, the platform saw a 50% improvement in core metrics, including active users and assets, in its first 30 days.
Parlay Capital and Data Point Capital led the round, with participation from FDJ Ventures, Greenwave Ventures, Connexa Capital, Impellent Ventures, the Operating Group, and Sharp Alpha Advisors. Direct investments also came from Chicago Trading Company Ventures, Belvedere Trading, Ematiq, and principals at White Swan Data and Consolidated Trading. ProphetX said the mix of venture, sports, and proprietary trading investors signals institutional confidence and professional trading interest in the regulated prediction market category.
CEO and co-founder Dean Sisun said the funding gives the company momentum after its nationwide launch and CFTC approval to operate as what it calls America's first federally regulated, sports-native prediction market. "Prediction markets are now a permanent fixture of the American financial landscape, and ProphetX intends to lead them," he added. The capital will support efforts to capture a larger share of the growing B2B event contracts market.
Investors echoed that view. Parlay Capital Holdings CEO Greg Buonocore said ProphetX is building the infrastructure that will shape how everyday users and institutions engage with sports prediction markets, while Data Point Capital founder Scott Savitz called the company a pioneer in the ecosystem, citing its CFTC approval and rising interest in event-based markets.