ParlayX secures $1.25M in pre-seed funding for institutional prediction market infrastructure. The funding round was led by Dreamcraft Ventures, based in Copenhagen, with participation from angel investors.
Angel investors include Pet Berisha of Sporting Crypto, Jeffrey Haas of ID8, Jack Corddry from Frax Finance, and Devin Ardalan, president of US operations at EVG. With this deal size, the funding round ranks among the top third of pre-seed rounds in the industry.
ParlayX offers a non-custodial, fund-grade infrastructure layer designed for institutional players in prediction markets. It provides order routing, custody, and capital control tools, along with detailed permissioning and unified portfolio visibility across accounts.
At the core of the platform is an order and execution management system (OEMS) spanning multiple prediction market venues, tailored for trading desks, market makers, and quantitative funds rather than individual retail traders.
The platform’s design differs from the typical single-user, single-account setup. ParlayX’s system allows multiple participants within an organization to operate under shared infrastructure and synchronize positions, a structure ideal for institutional trading operations over casual, individual accounts.
ParlayX has now integrated its platform with four prediction market venues: Kalshi, Polymarket, Limitless, and ProphetX. Further integrations with Novig and Polymarket US are planned for the early NFL season.
ParlayX has also brought onboard its first 10 market makers, utilizing the company’s API and SDK for running algorithmic trading strategies across the connected venues. A waitlist for additional quantitative desks and hedge funds is in progress.
The new funding will support additional venue integrations, enhancements to ParlayX’s proprietary smart order routing algorithms, and the expansion of global go-to-market operations.
“Prediction markets are evolving into a multi-billion-dollar asset class, but the underlying infrastructure has remained fragmented and retail-focused,” commented Nikolaj Nyholm, general partner at Dreamcraft Ventures.
ParlayX CEO and co-founder Andrew Gonzalez is scheduled to speak at the Global Prediction Markets Forum at SBC in Lisbon, as well as at various prediction market-focused events in New York later this year, as part of the company’s efforts to enhance its industry presence.