Mentioned:
There’s a new startup building prediction markets on-chain. And they’re being backed by Coinbase.
What’s happening:
- Prediction market startup The Clearing Company has raised $15M USD in a seed round
- The new funding round was led by Coinbase (NASDAQ: COIN)
Why it matters:
- The Clearing Company is founded by Tom Gemayel who previously led growth marketing at both Polymarket and Kalshi
Going deeper:
- The Clearing Company is aiming to become one of the first prediction markets to be built fully on-chain and has publicly stated they are focused on securing regulatory approvals and compliance with federal laws in the United States
- Coinbase has been making multiple bets on prediction markets lately, including recently participating in a $4M USD funding round for Base Layer Prediction Market Limitless alongside of BitMEX co-founder Arthur Hayes
