ProphetX has announced the completion of a $35m (£26.3m) funding round with participation from FDJ United’s corporate venture capital arm, FDJ United Ventures.
The round, which ProphetX says will be used for product development, to help scale its B2B platform, and boost liquidity, was led by Parlay Capital and Data Point Capital.
ProphetX said it had seen active users and assets on its platform increase by 50% in its first 30 days of starting operations and that it is targeting a tripling of trading volume this year.
The company was given the green light in mid-June by the Commodity Futures Trading Commission (CFTC) to operate an exchange in the US, just as the World Cup got underway.
Founded in 2018 by Dean Sisun and Jake Benzaquen under the name Prophet Exchange, the firm secured a $10m in investment in an April 2023. The business, which initially operated as a betting exchange in New Jersey, rebranded to ProphetX and pivoted to a sweepstakes model the following year.
ProphetX, which positions itself as “America’s first federally regulated sports-native prediction market”, then applied to register as a designated contract market (DCM) and derivatives clearing organisation (DCO) in November 2025.
$35M raised.
Backed by Parlay Capital, Data Point Capital, and a stacked group of investors who believe in the future of ProphetX.
What we’re building next is going to change the game. Stay tuned. https://t.co/18F1xFfqic
— ProphetX (@PlayProphetX) July 28, 2026
Built into the platform is a “request for quote” (RFQ) parlay mechanism, which allows users to create and price their own multi-event combinations.
Dean Sisun, CEO and co-founder of ProphetX, said: “On the heels of ProphetX’s recent nationwide launch and CFTC approval to operate as America’s first federally regulated sports-native prediction market, this raise gives us the fuel to meet the surging demand from both consumers and institutions to participate in this new asset class.
“Prediction markets are now a permanent fixture of the American financial landscape, and ProphetX intends to lead them.”
Maxime Sbeghen, head of investments at FDJ United Ventures, added: “Prediction markets are on track to exceed $1trn by 2030, driven by surging demand for event-driven trading products and growing adoption across the United States and globally.
“ProphetX is uniquely positioned at the centre of that shift – bringing regulated sports prediction into the mainstream of American culture, media and financial markets.”
In April this year, ProphetX sent a letter to the CFTC urging the regulator to preempt state efforts to curtail the growth of prediction markets.
The most recent investment FDJ United Ventures announced was its participation in software development firm Prelude’s $20m Series A funding round.
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Prediction markets platform says latest raise gives it “the fuel to meet the surging demand from both consumers and institutions”
The post ProphetX secures $35m funding round with backing from FDJ United Ventures first appeared on EGR Intel.