Onyx Odds raises $20M Series A led by Payward to build prediction market product
Onyx Odds closed a $20 million Series A funding round in June 2026 led by Payward, the parent company of crypto exchange Kraken. The company plans to launch a prediction market product. The funding and launch plans were confirmed by multiple reports in June 2026. No specific regulatory pathway has been disclosed for the upcoming product launch. Payward's involvement connects Onyx Odds to regulated crypto infrastructure, though the exact nature of that support remains unspecified.
Payward's backing gives Onyx Odds capital and a potential regulatory shortcut through its established crypto infrastructure. Yet the strategy remains unclear compared to rivals who have picked their paths explicitly. High Roller and Markets both chose Crypto.com Derivatives North America's white-label licenses to launch fast, while Kalshi and Polymarket pursued direct CFTC designation. Onyx Odds now faces a choice with real consequences for its timeline and control.
A white-label deal through Payward or Kraken would match the CDNA pattern and trim years off licensing. Going direct would cost more and take longer but insulate the platform from any parent-company regulatory trouble. The decision shapes whether Onyx Odds controls its own fate or shares it with Payward's regulatory standing. Traders and future partners will read that choice as a signal of the company's long-term staying power.