Pred Secures $2.5M from Accel to Build High-Speed Sports Prediction Exchange on Base

• Before the platform is made available to the general public, traders are onboarded via an invite-only program while it is still in private beta.
• By using an exchange model for sports predictions, Pred adopts a new strategy by enabling direct trades between users.

Peer-to-peer sports prediction exchange Pred announced a $2.5 million funding round headed by Accel, in which BEF by Coinbase Ventures and Reverie also participated. The funding will help Pred establish exchange-grade infrastructure for sports prediction markets, as well as team growth, liquidity development, and international user onboarding. Before the platform is made available to the general public, traders are onboarded via an invite-only program while it is still in private beta.

Based on Coinbase’s layer-2 blockchain network, Base, Pred is creating the quickest sports prediction exchange. With spreads under 2 percent and 200 millisecond execution, the platform enables traders to buy and sell positions on sports results. With an emphasis on transparent order books, market-driven pricing, and on-chain settlement, it is intended for traders who approach sports markets with the same analytical rigor as financial markets. 

The majority of applications have been restricted to sporadic events like elections or macroeconomic results, despite prediction markets’ past great predicting accuracy.

With their constant worldwide demand, numerous events, and inherent suitability for high-speed trading tactics, sports provide a radically different environment. The bulk of volume is still concentrated in house-controlled sportsbooks that set pricing and handle risk internally, despite the size of the global sports betting market.

By using an exchange model for sports predictions, Pred adopts a new strategy by enabling direct trades between users. Instead of being determined by predetermined odds, prices are determined by actual supply and demand, which reflects the mood of the market as a whole. Pred wants to make the sports result market more trader-driven, transparent, and efficient by eliminating the house from the equation.

Through institutional collaborations, Pred will enhance market liquidity, expand its workforce with expertise from the financial and sports sectors, and encourage the rise of traders required to maintain a high-velocity exchange. The objective is to establish itself as the leading worldwide sports prediction trading.

With a 200 ms execution time and spreads under 2%, Pred is building a sports prediction exchange that will enable traders to buy and sell positions on sporting events. Pred functions as a peer-to-peer market where experienced traders are accepted, in contrast to typical sportsbooks that restrict or exclude successful traders.

*Disclaimer: Pred does not operate in India, Singapore, the US, or OFAC-sanctioned countries.