Pred has received $2.5M to build an exchange-level infrastructure for sports marketing on Base
Pred wants to develop the fastest sports prediction exchange on Base, Coinbase's layer-2 blockchain.
The peer-to-peer sports prediction exchange built on Coinbase's Base network has secured $2.5 million in Accel-led funding from Coinbase Ventures' BEF Fund and Reverie, according to a statement on Tuesday.
The platform supports fresh capital deployment, liquidity expansion and passive users while deploying a customized trading infrastructure for sports markets. Pred is currently running a private beta with an invitation-only access program.
The exchange allows participants to exchange positions on sports outcomes directly with each other, bypassing traditional bookmakers who set odds and manage insider risk. Execution time reaches 200 milliseconds with less than 2% spread and all settlement processing is done on-chain, the team said.
“Speculation markets have proven their value for spectacle events, but sports represent a completely different scale of opportunity, continuous, global and deeply fluid,” says Priyank Swarop of Aceel, which exemplifies the focused performance the organization supports rather than relying on general-purpose tools.
Unlike sportsbooks, which often limit profitable users, Pred's model allows open-order books to be created with prices based on actual supply and demand, the team said. The approach reflects the mechanics of financial exchange rather than the betting systems that control the house.
“The $500B global industry of sports betting still operates on an infrastructure that rewards winners,” said CEO and co-founder Amit Mahensaria.
The company also plans to hire talent from the finance and sports industries while forming institutional partnerships to enhance market efficiency.
