Onyx Odds Raises $20M Series A at $220M for Sports Prediction Markets

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Onyx Odds, a New York City based prediction markets app focused on sports, has closed a $20 million Series A round that values the company at $220 million. The raise comes less than a year after the product left beta.

The round was led by Payward, the parent company behind Kraken, NinjaTrader, and Bitnomial. Founded in 2025, Onyx Odds lets users engage with sports outcomes through exchange-traded instruments, giving them a market-driven way to take positions on sports events.

The company has grown quickly. It reports nearly one million users and says strong retention has made it one of the largest prediction platforms within its first year, all built on less than $8 million in venture funding before this round.

As part of the investment, Onyx Odds will integrate with Payward Services, the B2B infrastructure platform that sits behind Kraken and Payward’s broader product lineup. That tie-up is meant to power the prediction markets offering on Payward’s licensed U.S. derivatives stack and to embed crypto trading directly inside the Onyx app.

The deal lands during a period of rapid growth for prediction markets, a sector that has drawn rising attention from both crypto and traditional finance players.