ProphetX, a CFTC-designated sports prediction market that is also building a B2B business to sell its exchange infrastructure to other companies, raised $35M (Ryan Lawler/Axios)

Summary

ProphetX raised $35 million while building both a CFTC-designated sports prediction market and B2B exchange infrastructure for other companies.

Why it matters

Regulatory status plus infrastructure reuse can create a sturdier moat than a standalone consumer bet.

Founder/operator read

• If regulation is part of your moat, explain the business model beyond compliance.
• B2B leverage can make a niche market much more investable.

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