By The Weekly Edge desk ·
Focus Gaming News reported that ProphetX raised $35m to scale its sports prediction-market platform. The company launched a peer-to-peer sports-event exchange the previous month.
The funding supports expansion of ProphetX’s recently launched exchange.
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The partnership adds Pikkit to ProphetX’s B2B prediction market expansion.
The round adds $35m in financing to ProphetX.
The agreement brings ProphetX sports contracts into Players’ Lounge’s gaming platform.
Robinhood Derivatives faces a 16 October compliance deadline for Ohio’s cease-and-desist order concerning sports-event contracts.
Recipients face possible administrative, civil or criminal proceedings if they disregard the commission’s demands, PlayUSA reported.
Nine prediction market platforms face Connecticut cease-and-desist orders over sports event contracts offered to residents.