Pred secures $2.5M to build exchange-grade infrastructure for sports trading on Base

Pred, a peer-to-peer sports prediction exchange operating on Coinbase's Base layer-2 network, has successfully secured $2.5 million in funding. The round was led by Accel, with participation from Coinbase Ventures’ BEF fund and Reverie. This capital infusion is earmarked for hiring, expanding liquidity, and onboarding global users as Pred develops specialized trading infrastructure for sports markets. The platform allows users to trade positions directly based on sports outcomes, utilizing open order books where prices are determined by supply and demand, mirroring financial exchange mechanics rather than traditional, house-controlled bookmakers. Pred boasts execution times as fast as 200 milliseconds with spreads under 2%, and all settlements are conducted on-chain. The CEO, Amit Mahensaria, noted that the $500 billion global sports prediction industry currently relies on infrastructure that penalizes profitable users, a problem Pred aims to solve.

(Source：Crypto Briefing)