A New Prediction Market Raises $3M in Pre-Seed Round Led by 1confirmation

Limitless Labs, a fledgling entrant to the booming prediction market business, raised $3 million in a pre-seed round led by early stage venture fund 1confirmation.

One of its specialties is markets that expire quickly, typically concerning the price of a stock or cryptocurrency at the end of a trading day. On Monday, for example, its largest market by volume asked traders to bet whether Coinbase's stock would close above $175 at 4 p.m. Eastern time. Hetherington likened these to the

"The average trader we have on the platform right now is spending around four hours per week," Hetherington said."So the retention is really, really high. I mean, like 38% of users that come on the first day come after the seventh day, according to our recent data."

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