Pred, a peer-to-peer sports prediction exchange, has raised $2.5 million in a funding round led by Accel, with participation from BEF by Coinbase Ventures and Reverie, according to a statement shared Tuesday.
Pred has stated that the new capital will fund team expansion, liquidity development, and global user onboarding as it builds exchange-grade infrastructure for sports prediction markets. The platform is live in private beta, with traders joining through an invite-only program ahead of broader public access.
The company is building its sports prediction exchange on Base, Coinbase’s layer-2 blockchain network. It allows traders to buy and sell positions on sports outcomes, with the company claiming 200-millisecond execution and spreads under 2%.
In the announcement, it positioned the product for traders who approach sports markets with the same analytical discipline used in financial markets, pointing to transparent order books, market-driven pricing, and on-chain settlement.
“Prediction markets have proven their value for episodic events, but sports represent an entirely different scale of opportunity, continuous, global, and deeply liquid,” said Prayank Swaroop, a partner at Accel. He added that the team is building “purpose-built infrastructure” for sports rather than adapting general tools.
Important to note, most prediction markets so far have centered on one-off events like elections or macroeconomic releases, while sports generate constant, worldwide trading demand and a steady stream of contests. Even so, the bulk of activity in the global sports betting economy still runs through house-controlled sportsbooks that set the odds and manage risk in-house.
Pred’s exchange model lets participants trade directly with one another, with prices emerging via supply and demand rather than fixed odds. By removing the house from the equation, the goal is a more efficient and transparent marketplace for sports outcomes.
“Sports prediction is a $500B global industry still running on infrastructure that punishes winners. We built Pred to change that, a decentralised exchange where speed, transparency, and skill are rewarded, not penalised,” said Amit Mahensaria, CEO and Co-Founder of Pred
With the funding, Pred plans to hire from the financial and sports sectors, deepen market liquidity through institutional partnerships, and grow its trader base to sustain what it described as a high-velocity exchange, with the stated goal of becoming a premier global destination for sports prediction trading.
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