Pred, a sports prediction exchange built on Base, Coinbase's layer-2 blockchain network, has raised $2.5 million in funding to develop purpose-built trading infrastructure for sports markets.
The platform is designed to function like a financial exchange, offering transparent order books, market-driven pricing and on-chain settlement, with the company claiming 200-millisecond execution speeds and spreads of under 2%.
Amit Mahensaria, chief executive and co-founder of Pred, said the sports prediction industry is "a $500 billion global industry still running on infrastructure that punishes winners," and that the platform was built to reward speed and skill rather than penalise them.
Prayank Swaroop, partner at Accel, which participated in the round, said sports represent a different scale of opportunity to other prediction markets due to their continuous, global nature.
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Pred said it will use the funding to hire staff from financial and sports sectors, build institutional partnerships to deepen market liquidity, and expand its trader base.
The company said its goal is to become the leading global destination for sports prediction trading, though no launch date was disclose
The Recap
- Pred raised $2.5 million to build a global exchange.
- Platform targets 200-millisecond execution and spreads under 2%.
- Funding will expand team, deepen liquidity, and grow traders.
