PredictionStrike, founded in 2019 by Deven Hurt and Brad Chabra, operates an online marketplace where users buy virtual shares of athletes across the NFL, NBA, MLB and UFC. Share prices are set by an in-house algorithm that incorporates player performance and trading demand, and the product is modeled after a stock market. The company has processed $60 million in transactions and reports more than 175,000 users, up from $15 million in transactions and 100,000 users a year earlier. PredictionStrike generates most revenue via a 2.5% transaction fee and offers a subscription tier with lower fees and additional perks; it also aims to sell aggregated data on athlete popularity and trading patterns in the future. The team has been investing raised capital into product development and outside hires, and Hurt has led the company while completing Harvard Law School. PredictionStrike is available in about 40 states but has faced regulatory scrutiny, including an Ohio investigation and a cease-and-desist letter from New Jersey; the company says it operates as a “game of skill” and will apply for licenses where required. PredictionStrike operates a live marketplace that lets fans buy and sell virtual shares of athletes, with prices driven by real-world performance and user demand. The platform functions like a stock market—each game acts like an earnings report—and supports portfolios, trading, and social engagement features. The company plans to launch a premium membership in fall 2022 that will add social features (friends, leaderboards, reward-based referrals) and advanced trading tools. PredictionStrike is adding new sports ahead of major seasons, starting with soccer and followed by women’s basketball, tennis, and golf. The team has partnered with athletes and agencies (notably VaynerSports for MMA) to produce content and drive engagement. Since the return of sports after 2020 the company has processed over $15M in transactions and grown to more than 100K users. PredictionStrike operates a performance-based sports trading platform that lets users buy, sell, and trade virtual shares of professional athletes using real money. The platform functions like a live stock market, enabling users to build portfolios and trade in a live market where share prices react to players' real-world performance and fan demand. Prices update with each game or match, which the company compares to earnings reports. PredictionStrike also plans to leverage its data analytics to provide real-time fan-intelligence insights to athletes, agents, retailers, ticket sellers, and others in the sports business. The company intends to use new funding to expand its team, further build out its technology, and increase marketing to attract new users. Since the return of sports after the 2020 COVID-19 hiatus, PredictionStrike has completed over $3M in transactions. The platform was co-founded by Deven Hurt and Brad Chabra and is based in New York City.

Total raised

$15M

Funding rounds

3

Latest round

Series A

Latest activity

Sep 2023