Onyx Odds announced a $20 million Series A funding round that values the company at $220 million. The round was led by Payward, the parent company behind Kraken, NinjaTrader, and Bitnomial. The financing comes less than a year after Onyx Odds came out of beta.
Onyx Odds is a social sports prediction platform that enables users to engage with sports outcomes through exchange-traded instruments. The company said its platform offers a market-driven way to participate in sports markets.
Founded in 2025, Onyx Odds has grown quickly, attracting a dedicated user community and building momentum across the broader prediction and data marketplace. The company said it has nearly one million users and has become one of the largest prediction platforms within its first year, after raising less than $8 million in venture funding prior to this round.
As part of the investment, Onyx Odds will integrate with Payward Services, the B2B infrastructure platform behind Kraken and Payward’s broader product suite. The integration will power Onyx’s prediction markets offering through Payward’s fully licensed U.S. derivatives stack and embed crypto trading inside the Onyx app.
The company said the integration gives Onyx the foundation to expand its prediction markets offering without spending years assembling vendors, licenses, and operational capabilities on its own.
For Payward, the investment represents a move further into prediction markets and reinforces its position as a multi-asset infrastructure platform. Payward Services enables partners to access crypto and tokenized equity trading, fiat and stablecoin payments, yield, lending, prediction markets, and derivatives through a single integration.
Payward said its infrastructure combines liquidity, custody, payments, compliance, risk, and settlement into a single regulated foundation, helping partners focus on product and user experience rather than managing fragmented vendor stacks.
KEY QUOTES:
“This investment marks a major milestone for Onyx Odds and validates the strength of both our platform and our vision. Payward brings a deep expertise and allows us to scale more efficiently while continuing to deliver a best-in-class experience for our users.”
Leul Dadi, Founder and CEO of Onyx Odds
“Prediction markets are one of the fastest-growing emerging categories in financial services. Payward is the only US platform that brings a CFTC-registered FCM, a CFTC-designated DCM and a global crypto exchange under one roof, and makes the full stack available through Payward Services. Onyx is the kind of operator that knows what to do with that foundation, and we’re investing to help them scale it.”
Mark Greenberg, Head of Payward Services
