Sports "momentum market" SpeedLabs completes $6.5 million seed round financing, led by Parlay Capital

"Momentum Markets" SpeedLabs announced the completion of a $6.5 million seed round financing, led by Parlay Capital, with participation from Bullpen Capital, TA Ventures, EdgeEquity, and others.

Unlike traditional prediction models, SpeedLabs has built a market engine for real-time sports events that can read the real-time dynamics of the game and instantly create and price markets based on on-field dynamics, allowing users to trade based on changes in game momentum. It believes that the newly generated real-time event momentum market is expected to become the next growth direction for prediction markets.