Limitless Labs has successfully raised $3 million in a seed funding round led by 1confirmation, which supports the prediction platform Limitless. Among the participants were notable firms such as Paper Ventures, Collider, and Public Works, along with prominent figures like Peter Thiel and Marc Andreessen.
Expansion with New Features
The new funding will be utilized to enhance the Limitless platform by introducing new features aimed at improving user experience. Limitless Labs plans to launch a decentralized social network that allows users to create their own prediction markets. This way, users can earn transaction fees and build their own sub-communities within the platform.
According to Limitless CEO CJ Hetherington, user-driven markets are already gaining popularity.
Hetherington stated, “Many of the most popular markets on our platform were not created by us. They were created by members of our community, allowing them to earn money.”
A Distinct Approach to Prediction Markets
Unlike traditional prediction platforms, Limitless focuses on markets that yield fast results. Users make predictions on topics such as stock or cryptocurrency prices by the end of the day. This short-term focus resembles zero-day options in the financial world, appealing to users who do not want to tie their money in long positions and enhancing repeated engagement on the platform.
Recent popular markets included topics like the potential arrest of Pavel Durov, the founder of Telegram, and the future of X (formerly Twitter) in Brazil. This strategy has also increased user loyalty, with data showing that 38% of new users return to the platform after their first week, indicating a strong resonance of the daily market format among investors.
Founded in December 2023 by CJ Hetherington, Roman Mogylnyi, Dima Horshkov, and Rev Miller, Limitless Labs continues to focus on community-driven markets and rapid-result predictions while aiming for growth. With its innovative approach, Limitless Labs may usher in a new era in prediction markets by encouraging users to take more active roles.
However, challenges remain, including the CFTC's ongoing scrutiny of prediction markets and their classification as illegal in many countries. Limitless Labs aims to redefine how prediction markets operate, making them more dynamic and accessible to a broader audience.