Prediction markets are getting serious. Once confined to casual betting, financial institutions now view them as valuable tools to hedge risks and trade on economic events. Yet this fast-growing industry remains scattered across numerous venues. That’s why startup River Markets launched a platform that gives professional traders a single place to trade across multiple prediction markets.
Co-founded by CEO Oscar Levy and CTO Antonin Parrot, River Markets announced Tuesday that it raised $8.5 million in a seed round led by Haun Ventures that closed in July. Y Combinator and Coinbase Ventures also participated in the fundraise, along with institutional backers like Qube Research Technologies and angel investors that work at Google, Nvidia, Novig, JPMorgan and Citadel. The founders declined to specify the valuation at which they raised the capital.
