Opinion raises $20 million as prediction markets draw capital in a weak crypto market

Core Insights - Opinion, a blockchain-based prediction-market platform, raised $20 million in a pre-Series A funding round, indicating that certain segments of the crypto economy can still secure significant investment despite a downturn in broader markets [1] Company Overview - Opinion operates similarly to Polymarket, with markets settled on-chain, distinguishing itself from centralized exchanges like Kalshi [2] - The company accounts for approximately one-third of global prediction-market volume and has over $130 million in open interest, as reported by Dune Analytics [3] Industry Trends - The prediction-market industry is experiencing structural growth, with U.S. bank Citizens noting that these markets are evolving into a new asset class, achieving monthly trading volumes around $10 billion as they expand beyond sports into macroeconomic and policy outcomes [4] - The fundraising success of Opinion suggests that blockchain-native infrastructure addressing real demand, such as event trading, continues to attract investor capital even during a subdued crypto cycle [4] Strategic Focus - Opinion's strategy emphasizes diversification, engaging in trading across various sectors including macroeconomic events, pre-token generation events, culture, and crypto, rather than focusing solely on sports and politics [5] - The funding will be utilized to enhance the company's regional presence and facilitate global expansion in anticipation of the 2026 World Cup and upcoming elections [5]