@d
We've (@socialgraphvc) seen 22 prediction market companies over 2025, and haven't backed any.
Which and why?
> Broadly, we've seen sports focused PMs, levered PMs, ecosystem focused PMs, defi PMs, aggregators, and PM data companies
> Differentiation is hard, new entrants have little to no liquidity vs. Polymarket
> Ancillary tools are usually small markets at this point, and could easily be built/bought by larger markets
What have we backed?
> Apps that embed markets within their experience, but it's not their main thing, it's and add on that appeals to their users
> In that train of thought, companies that help consumer companies curate and embed prediction markets in their experience is an area of interest
If you want the full list, DM me
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