Prophet Exchange goes live as first peer-to-peer sports betting exchange in US
Prophet Exchange has received approval from the New Jersey Division of Gaming Enforcement.
US.- Prophet Exchange has become the first peer-to-peer sports betting exchange platform to be regulated for a US market. It’s launched in New Jersey after licensing approval from the New Jersey Division of Gaming Enforcement.
Prophet Exchange will initially offer access to moneyline, spread and total markets for NFL, NBA, NHL, MLB, NCAA football, and basketball games. The company plans to add new sports and markets. Bettors can set their own prices and place bets on prices that have been set previously by other users.
Prophet Exchange co-founder and CEO Dean Sisun said: “There is an overwhelming amount of emotion I feel for Prophet officially launching as the first fully regulated, peer to peer betting exchange in New Jersey.
“This has been a monumentally challenging journey to date, and to see it come to life is an amazing achievement for our team. That being said, this is only Prophet’s first major milestone, and we will not lose sight of our north star: becoming the mainstream sports betting platform in the United States.”
Prophet co-founder and COO Jake Benzaquen added: “Launching here in New Jersey is everything we’ve been working towards for four years.
“Being the first start-up and the first betting exchange in the United States regulated market means the world to us and our team here in Hoboken, and globally. We cannot wait to show the public who we are and what our product offers to the market here in New Jersey and beyond. As we say here, to the moon.”
NFL World Champion and Propet Exchange partner Victor Cruz placed the first wager on the exchange. He commented: “Prophet Exchange is the sports betting platform of the future. It was great to place a bet directly with other users on the exchange without having to factor in lines that oddsmakers chose.
“I’m extremely proud to be a strategic partner of Prophet Exchange as they continue to innovate the sports betting world. Being a native of New Jersey, there’s no company I’d rather partner with. Of course, I had to bet on my Giants for my first wager.”
In May, Prophet Exchange made several new hires ahead of its New Jersey launch. Matt Stolarz was appointed as director of technical product, Zhifeng Shi as director of software engineering and Casey Halpern as the director of social media and content.
Prophet is the exclusive sponsor of the Badlands Patreon and podcast hosted by NFL media’s Connor Rogers and Joe Caporoso. It also sponsors the “Turn On The Jets” podcast hosted by NFL Analyst Will Parkinson. Badlands is a New York Jets subscription content platform with thousands of paying subscribers.
