Onyx Odds

What Onyx Odds does

Onyx Odds, operated by Onyx Games LLC with a regulated affiliate Onyx Predictions LLC, is a US-based social sports prediction and gaming platform that combines sports picks, social sweepstakes, daily fantasy sports (DFS), cryptocurrency trading, and culture/politics prediction markets inside a single consumer application. The platform supports 13 sports categories with both live and pregame team and player picks, plus non-sports markets spanning geopolitics, finance, and culture. Underlying the product is a CFTC-regulated derivatives stack — Onyx Predictions LLC is a registered introducing broker and NFA Member, guaranteed by three CFTC-registered futures commission merchants (NinjaTrader Clearing, Kraken Derivatives US, and Tradovate) — which provides the legal infrastructure for prediction-market operations in the US.

The business operates on a freemium virtual-currency model. Users play for free using Gold Coins (non-redeemable), can purchase Gold Coin packs (the primary monetization stream), and may receive Sweeps Cash bonuses through marked packs or mail-in requests, which can be redeemed for cash prizes subject to per-period caps. A forthcoming crypto product (Onyx Crypto) will embed trading across 500+ tokens within the same application, powered by a partnership with Payward Services (parent of Kraken). Distribution is product-led and self-serve via the iOS App Store (9.2k reviews), Android, and the web, with marketing concentrated in organic social channels and referral incentives. The company is available in 30+ US states with geographic availability disclosed by product (Social Sweepstakes, DFS, Crypto).

Onyx was founded in 2025 by Leul Dadi, is headquartered at 169 Madison Ave, New York, and grew to approximately 800,000–1,000,000 users within its first year of operation. In June 2026 it closed a $20 million Series A led by Payward at a $220 million post-money valuation, having previously raised less than $8 million in venture funding. The company reports $2B+ in monthly notional volume but does not publicly disclose revenue.

Name

Onyx Odds

Legal name

Onyx Games LLC

Website

https://onyxodds.com

Company type

Private

Founded year

2025

Operating status

Operating

Headcount range

11–50 employees

Short description

Onyx Odds is a US social sports prediction and gaming platform combining sports picks, social sweepstakes, DFS, and crypto trading across 500+ tokens, serving approximately one million consumers in 30+ states via a CFTC-regulated introducing broker entity.

Ownership category

akta.pro rank

Product category

Sports Prediction Platform

NAICS

Commodity Contracts Intermediation (52316), Gambling Industries (7132), Securities and Commodity Exchanges (523210), Investment Banking and Securities Intermediation (523150)

SIC

Commodity Contracts Brokers & Dealers (6221), Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)

akta.pro primary industry

iGaming Platform Providers (Turnkey/Casino & Sportsbook Platforms) (MPAEAKAA)

akta.pro secondary industries

Prediction Markets & Event-Based On-Chain Trading (FSADABAM), Sportsbook Trading, Odds & Feed Providers (MPAEAKAB), Prediction Markets & Event Derivatives (Crypto) (FSADAGAG), Exchange Odds, Pricing, Trading Tools & APIs (MPAEAIAG)

Keywords

• Sports prediction platform
• Social sweepstakes gaming
• Daily fantasy sports
• Prediction markets
• Crypto trading app

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Virtual Coins (Gold Coins): Users purchase Gold Coins for freemium play on the Platform. Gold Coins cannot be redeemed for Prizes but provide enhanced gameplay experience. Purchases are final with no refunds. This is the primary monetization mechanism for the social gaming platform.
2. Sweepstakes Entry Bonuses: Users may receive Sweeps Cash as a bonus upon purchasing specifically marked packs of Gold Coins. Sweeps Cash can be used to play sweepstakes games and potentially win additional Sweeps Cash redeemable for cash prizes.
3. Crypto Trading: Users can trade 500+ cryptocurrency tokens within the Onyx platform. Crypto functionality is available in the US starting July, expanding revenue opportunities through crypto transaction capabilities.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Onyx Odds operates a social sports prediction platform accessible via web and mobile apps, offering live and pregame team and player picks across 13 sports categories, sweepstakes-based gaming using Gold Coins and Sweeps Cash virtual currencies, daily fantasy sports, and integrated cryptocurrency trading for 500+ tokens. The platform is available in 30+ US states and leverages CFTC-regulated derivatives infrastructure through a partnership with Payward (parent of Kraken) to enable compliant prediction market operations.

Product overview

Onyx Odds is a social sports prediction platform and gaming ecosystem that combines multiple product offerings. The core platform includes Onyx Social Sports Predictions (a sports betting platform supporting 13 sports categories with live and pregame markets), Onyx Social Sweepstakes (a sweepstakes-based gaming system using virtual currencies), Onyx DFS (daily fantasy sports available in CA and IN), Onyx Crypto (cryptocurrency trading with 500+ tokens, launching July), and Onyx Prediction Markets (non-sports markets covering culture, politics, and finance). The platform uses virtual currencies (Gold Coins for freemium play and Sweeps Cash for sweepstakes entries) and is available across 30+ US states. The company integrated with Payward Services (Kraken's parent company) to power prediction markets through CFTC-regulated derivatives infrastructure.

Differentiator

Problem solved

Functional benefit

Brands

• Onyx Social Sweepstakes: Social sweepstakes platform available in 30+ states across the United States where users can play sweepstakes games for a chance to win cash and prizes.
• Onyx DFS
• Onyx Crypto
• Onyx Predictions

Quantifiable outcome

• Nearly 1 million users within first year of operation with industry-leading retention
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core.

• NinjaTrader Clearing LLCcoreOthersOnyx Predictions LLC is an introducing broker guaranteed by NinjaTrader Clearing LLC (d/b/a NinjaTrader). NTC is a CFTC-registered futures commission merchant and NFA Member that carries and maintains all customer accounts.
• Kraken Derivatives UScoreOthersOnyx Predictions LLC is guaranteed by Kraken Derivatives US as part of its CFTC-regulated derivatives infrastructure. This partnership enables access to licensed US derivatives trading capabilities.
• TradovatecoreOthersOnyx Predictions LLC is guaranteed by Tradovate as part of its brokerage infrastructure. Together with NinjaTrader Clearing LLC and Kraken Derivatives US, these firms provide the FCM backing for customer accounts.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• DraftKings: DraftKings is the largest US sports betting and DFS operator with full state licensing across 25+ states — comparable to Onyx as a broad incumbent offering sports prediction, DFS, and increasingly prediction-market-adjacent products, though it cannot serve many of the states where Onyx operates under sweepstakes.
• FanDuel: FanDuel is a major US sportsbook and DFS operator offering sports predictions and same-game parlays — comparable to Onyx in the sports prediction category, but operating only in legally-licensed sports betting states and not under a sweepstakes model.

Direct peers

• Sporttrade: Sporttrade is a CFTC-regulated sports betting exchange backed by investors including a16z — comparable to Onyx Predictions as both bring exchange-style, liquidity-driven sports markets to US consumers under federal derivatives oversight.
• Novig: Novig is a peer-to-peer sports prediction market operating under CFTC oversight with a sweepstakes-style consumer app — highly comparable to Onyx because both target US sports fans with regulated event-contract trading and social mechanics.
• Kalshi: Kalshi is a CFTC-regulated prediction market exchange for event contracts covering sports, politics, and economics — directly comparable to Onyx Prediction Markets because both operate on US-regulated derivatives infrastructure and target the same category of event-based trading.
• Fliff: Fliff is a social sports prediction and sweepstakes mobile app offering sports picks across multiple leagues using a dual-currency (Fliff Coins + Fliff Cash) model — the closest direct competitor to Onyx Social Sweepstakes in product mechanics, target audience, and state-by-state availability strategy.
• Prophet Exchange: Prophet Exchange is a CFTC-regulated sports betting exchange offering peer-to-peer markets on sporting events — directly comparable to Onyx Predictions as both operate US-regulated derivatives infrastructure for sports event contracts.
• Polymarket: Polymarket is the largest crypto-based prediction market for sports, politics, and cultural events — comparable to Onyx Prediction Markets and Onyx Crypto because both combine crypto rails with event-contract trading, though Polymarket lacks US CFTC registration.

Emerging players

• Underdog Fantasy: Underdog Fantasy operates daily fantasy sports and pick'em products with social gaming mechanics — comparable to Onyx DFS and Onyx Social Predictions in audience and pick-style gameplay.
• PrizePicks: PrizePicks is one of the largest US daily fantasy sports operators offering player prop picks — comparable to Onyx DFS because both serve the same sports-picks audience with simplified over/under style entries, though PrizePicks operates at significantly larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/OnyxOdds
• Facebookfacebook.com/61566378119869
• Instagraminstagram.com/onyxodds
• LinkedInlinkedin.com/company/onyxodds

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Onyx Odds