Sports betting app Onyx Odds raises $20 million in round led by Kraken parent Payward

Onyx Odds, a sports betting app, has secured $20 million in funding led by Payward, the parent company of Kraken. This significant investment positions Onyx Odds to tackle fierce competition in the prediction markets, where Kalshi and Polymarket currently hold the top spots. The influx of capital is crucial for Onyx Odds to expand its offerings and enhance its platform, potentially reshaping the competitive landscape of sports betting and prediction markets. This move highlights the growing interest and investment in innovative betting technologies.