Melee Raises $3.5M to Launch ‘Viral Prediction Markets’ Without Gatekeepers

Melee, a startup aiming to democratize prediction markets, has secured $3.5 million in funding from Variant, DBA, and angel investors. The platform enables users to create markets on any topic, positioning itself as a more open alternative to traditional prediction platforms.

The funding comes as crypto-native prediction markets like Polymarket gain traction, particularly during high-profile events such as U.S. elections. Melee differentiates itself by eliminating centralized gatekeepers and relying on a decentralized pricing mechanism that rewards early and accurate traders.

Variant compares the evolution of prediction markets to social networks, suggesting multiple winners can emerge in this burgeoning category. The firm notes that influencers and content creators can leverage Melee to engage audiences and monetize through market creation.