Ep. 187: Finding a forever home as a prediction market w/ Jake Benzaquen from ProphetX

Ep. 187 features Jake Benzaquen, Co-Founder and CEO of ProphetX, for a deep dive into the company’s latest evolution from regulated exchange to sweepstakes model, to now filing with the CFTC to operate as a fully regulated marketplace for sports event contracts.

Hear him discuss:

The journey from launching in New Jersey as an OSB to building a national presence under the sweepstakes model

Why ProphetX is now pivoting to the CFTC model and what it means for the future

Lessons from scaling a sports betting exchange across multiple states

How product validation and customer feedback shaped ProphetX’s direction

Building an RFQ (Request for Quote) system for parlays, and why it’s a game-changer

Why ProphetX will focus on sports-first markets, and why it's not launching with political or pop culture markets

The two primary reasons why they decided to launch without an affiliated trading arm

Competing with industry giants like Kalshi, Polymarket, and DraftKings through product innovation

The growing cultural influence of prediction markets

How distribution partnerships and B2B integrations will drive user acquisition

Jake’s reflections on seven years of startup grit, team growth, and finding motivation for the next phase


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