OmenX, a prediction trading platform, has closed a multi-million dollar angel funding round. The funding came from a consortium including Paramita VC, Penrose Ventures, and M77 Ventures, alongside founders of centralized exchanges.
The announcement coincides with the launch of the OmenX Public Testnet. The platform aims to solve capital inefficiency in prediction markets by integrating leverage mechanics similar to crypto perpetuals. This allows traders to amplify positions and enter or exit instantly.
“We are building the infrastructure to treat global events as a liquid, tradeable asset class with institutional-grade leverage,” said James, Founder of OmenX and Former Head of Futures at Binance and Bybit.
The team, composed of experts in scaling leverage ecosystems, has engineered a matching engine to handle volatility from global news cycles. Following the Testnet, OmenX plans to introduce AI-driven forecasting agents.
The Public Testnet is open globally, featuring a points system to reward users for stress-testing. OmenX is positioning for a Mainnet launch on Coinbase's Ethereum Layer 2, Base.