Onyx Odds Raises $20M Series A Led by Kraken Parent to Bridge Social Prediction and Crypto

Onyx Odds has closed a $20 million Series A funding round led by Payward Ventures, the parent company of Kraken, at a valuation of $220 million. The platform uses a Sweepstakes model to legally offer sports predictions in the US, allowing users to win cash prizes without direct betting. The funds will be used to build social prediction features and integrate with crypto assets, aiming to merge traditional prediction markets with decentralized ecosystems.