O

Onyx Odds

Social sports prediction platform using a sweepstakes model

Performances

RD Popularity Index

4261.54% (24h)
0100200300400500
Project Rank: 1021/15394

RD Growth Index

2780.92% (24h)
0400800120016002000
Project Rank: 1846/15394

Comparison

Fundraising

Follow Updates

Follow Lists

People

About Onyx Odds

Onyx Odds is a social sports prediction platform where users predict outcomes of major leagues like NFL and NBA using virtual coins. It operates under a sweepstakes model, making it legally accessible in over 30 US states without traditional sportsbook licensing. The core appeal is its social layer: users can view friends' picks, join community discussions, and form 'Team Picks', turning isolated betting into a shared experience. Unlike conventional bookmakers, it functions more like a prediction market, where prices reflect collective wisdom rather than a house edge.

The platform addresses two pain points: regulatory friction in traditional sports betting and the lack of social interaction in existing apps. By using a sweepstakes framework, it avoids state-level licensing hurdles while still offering cash prizes. Its social features aim to build network effects and retention, differentiating it from purely transactional competitors.

In the past six months (March to September 2026), Onyx Odds has expanded its event coverage beyond sports to politics, culture, and finance. It launched crypto trading features in July 2026, allowing users to trade event contracts with digital assets. The user base has grown to nearly one million, with strong retention metrics. However, notable negative reports emerged: several users on Reddit complained about slow large withdrawals (over $500 requiring extra review), mandatory KYC including full Social Security numbers after net winnings cross $600, and a dormancy clause that forfeits funds after two months of inactivity. These issues, while not indicating fraud, highlight operational friction in payout processes.

Updated: Sep 4, 2026

Onyx Odds secured a $20M Series A led by Payward (Kraken's parent) on June 24, 2026, at a $220M post-money valuation, less than a year after exiting beta. The company reports nearly 1M users and industry-leading retention, positioning itself among the largest prediction platforms within its first year.

Strategic focus: integration with Payward Services' B2B infrastructure, including a CFTC-registered FCM and DCM, plus Kraken's global crypto exchange (15M+ users, 190+ countries). This enables crypto trading within the Onyx app and expands distribution. Future roadmap centers on sports-outcome exchange-traded instruments, differentiating from Kalshi and Polymarket while navigating regulatory scrutiny around sports prediction markets.

Updated: Sep 4, 2026

Confirmed co-founder: Leul Dadi — Founder & CEO. Harvard math graduate, ex-Jane Street analyst, founded Onyx Odds in 2024.

Other current core executives: Madison Zitzner — Head of Talent, joined Jul 2026; ex-Selby Jennings VP focused on quant research & prop trading recruiting.

Will Sussis — Growth Partnerships Lead, joined Jul 2026; ex-BetMGM affiliate marketing coordinator.

Nicholas Green — General Counsel, joined Sep 2026; ex-Underdog GC.

Updated: Sep 13, 2026