Limitless Labs, the research and development network behind prediction market platform Limitless, announced the successful closure of a $3 million pre-seed funding round. The round was led by prominent venture capital firm 1confirmation, which counts tech luminaries such as Peter Thiel, Marc Andreessen, and Mark Cuban among its backers. Other notable participants include Paper Ventures, Collider, and Public Works.
Explosive Growth Metrics
The fundraising comes at a time of rapid expansion for Limitless. According to the team, weekly trading volume on the platform has surged 800%, now processing over $200,000 in daily transactions. Remarkably, around 50% of monthly active traders interact with the platform every single day, indicating strong user retention and engagement.
Use of Funds and Future Plans
Limitless Labs intends to use the capital to accelerate platform development and launch new products, including a novel decentralized social network. This feature will allow users to create and participate in their own prediction markets while building on-chain reputation. Co-founder CJ Hetherington stated: “We are building at the intersection of prediction markets and SocialFi, enabling creators to monetize their audiences in new ways.”
Industry Context and Commentary
Nick Tomaino, Founder and General Partner at 1confirmation, commented: “I believe prediction markets will see trillions of dollars in volume in the coming years, and I love what Limitless is doing on Base.” 2024 has been a breakout year for prediction markets, with hundreds of millions flowing into markets centered on the U.S. presidential election. Limitless has also seen strong demand for its daily crypto and stock markets, which operate similarly to 0DTE (zero days to expiry) options in traditional finance. The community has actively traded markets around events like the arrest of Telegram founder Pavel Durov and the future of X in Brazil. Because these markets resolve on very short time horizons, traders are not required to lock up capital for extended periods, making them highly attractive.
About Limitless Labs
Founded in December 2023 by CJ Hetherington, Roman Mogylnyi, Dima Horshkov, and Rev Miller, Limitless Labs operates as an R&D network focused on prediction markets, blockchain, and AI applications. The team currently consists of nine members. For more information, visit limitless.exchange.