Hoboken-based Prophet Exchange, the nation’s first fully regulated, peer-to-peer high-frequency sports betting exchange, announced April 10 it secured more than $10 million in a new line of funding.
The backing comes less than a year after the company’s official launch in New Jersey last August, which has seen steady growth and momentum that included $1 million traded on this year’s Super Bowl. It plans to use this funding to look inward and develop the best, most innovative product in this rapidly emerging market.
As NJBIZ has chronicled, Prophet Exchange, founded in 2018 by Dean Sisun and Jake Benzaquen, utilizes its peer-to-peer platform to match users’ potential bets with others across New Jersey, offering money line, spread and total markets for NFL, NBA, NHL, MLB, and college basketball and football games.
