ParlayX has raised US$1.25 million in pre-seed funding to develop institutional infrastructure for prediction markets, targeting trading desks, market makers and quantitative funds.
The Copenhagen-based company’s funding round was led by Dreamcraft Ventures, with additional backing from angel investors including Pet Berisha of Sporting Crypto, Jeffrey Haas of ID8, Jack Corddry, formerly of Frax Finance, and Devin Ardalan, president of EVG’s US operations.
Infrastructure Designed for Institutional Trading
ParlayX describes its platform as a non-custodial, fund-grade infrastructure layer designed to address the fragmented trading environment across prediction market venues.
Its offering combines order routing, custody and capital controls with granular permissions and unified portfolio visibility across accounts.
At the core is an Order and Execution Management System (OEMS) that connects multiple prediction market venues through a single infrastructure layer. This allows organizations to coordinate trading activity across multiple participants rather than relying on the traditional single-user, single-account model.
Four Prediction Markets Already Connected
ParlayX has integrated its platform with four prediction market venues: Kalshi, Polymarket, Limitless and ProphetX.
The company plans to expand its network further, with Novig and Polymarket US expected to be added early in the NFL season.
The platform has also onboarded its first 10 market makers, which are using ParlayX’s API and SDK to operate algorithmic trading strategies across connected venues. Additional quantitative trading desks and hedge funds are currently on a waitlist.
Funding to Accelerate Platform Expansion
The new capital will support additional venue integrations, improvements to ParlayX’s smart order-routing algorithms and expansion of its global go-to-market operations.
Dreamcraft Ventures general partner Nikolaj Nyholm said prediction markets are developing into a multi-billion-dollar asset class, while the underlying infrastructure remains fragmented and largely designed around retail users.
For ParlayX, the funding marks an early step toward building the institutional technology layer needed to support more sophisticated trading activity across the expanding prediction market ecosystem.
