The funding round comes right after the platform had a record month for revenue and trading volume.
Opinion, a prediction marketplace founded in 2023 by Forrest Liu, announced today, Feb. 4, that it has raised $20 million in a pre-Series A round as it quietly moves into the top tier of on-chain betting.
The round was backed by Hack VC, Jump Crypto, Primitive Ventures and others, and comes about three months after the platform’s launch, according to a press release shared with The Defiant.
Before the pre-Series A, Opinion Labs, the firm behind the platform, raised $5 million in seed funding, led by YZi Labs, an investment vehicle spun out of Binance, with participation from Animoca Ventures and others.
Now, the company says it plans to use the new capital to deepen its APAC presence, while also scaling globally ahead of this year’s elections and the 2026 World Cup, the press release reads.
Since its October launch on BNB Smart Chain (BSC), formerly known as Binance Smart Chain, Opinion has jumped to third place among prediction markets by trading volume across daily, weekly and monthly timeframes.
The platform saw more than $653 million traded in the past week, trailing fellow on-chain prediction market Polymarket with $967 million, and hybrid on-off-chain competitor Kalshi with $902.2 million.
Opinion captured just over 20% of global prediction market volume in the past seven days, which stands at $3.24 billion, according to DefiLlama data. The platform is ranked second by total value locked (TVL) with about $120 million, following Polymarket with $330 million.
Opinion is also the largest prediction marketplace on BSC, with nearly $20 billion in cumulative volume and over 185,000 users as of press time, according to data from Dune Analytics.
The funding news comes after a sharp revenue jump for Opinion. The prediction marketplace generated an annualized $66 million in revenue and posted a monthly record of $6.14 million in January alone, per DefiLlama data, and is currently leading the sector by 30-day revenue.
Trading volume in January also marked a record high for the platform.
In the past week, the native token of Base-based prediction market Limitless rallied over 260% amid growing activity on the platform.
