Pred, a peer-to-peer sports prediction exchange built on Coinbase’s Base network, has secured $2.5 million in funding led by Accel, with backing from Coinbase Ventures’ BEF fund and Reverie, according to a Tuesday statement.
The fresh capital will support hiring, liquidity expansion, and onboarding users globally as the platform develops trading infrastructure tailored for sports markets. Pred is currently operating in private beta with an invite-only access program.
The exchange enables participants to trade positions on sports outcomes directly with one another, bypassing traditional bookmakers that set odds and manage risk internally. Execution times reach 200 milliseconds with spreads below 2%, and all settlement occurs on-chain, the team stated.
“Prediction markets have proven their value for episodic events, but sports represent an entirely different scale of opportunity, continuous, global, and deeply liquid,” Accel’s Prayank Swaroop said, noting that Pred’s tailored approach, rather than relying on general-purpose tools, exemplifies the focused execution the firm supports.
Unlike conventional sportsbooks that often restrict profitable users, Pred’s model allows prices to form through open order books based on actual supply and demand, the team stated. The approach mirrors financial exchange mechanics rather than house-controlled betting systems.
“Sports prediction is a $500B global industry still running on infrastructure that punishes winners,” said Amit Mahensaria, CEO and Co-Founder.
The company plans to recruit talent from the finance and sports industries while pursuing institutional partnerships to deepen market liquidity.