Prediction markets exchange Limitless is on track to hit $10m in revenue, based on fees collected in February.
The company’s CEO announced the news on Thursday afternoon US time.
“[Based] on fees collected in February, [Limitless] is about to hit $10M annualized revenue,” said CJ Hetherington. “Up from $1.8M in October.”
Growth on the platform has been driven by a huge increase in the exchange’s user base. The company released data showing that it saw almost 62,000 active users on its platform so far this month.
Limitless is one of a growing number of prediction market operators that use an offshore set up to accept clients.
Kalshi and Polymarket, the two major players in the sector, have both become licensed in the US.
However, other companies that want to accept a broader, global customer base are typically better off setting up shop in an offshore jurisdiction, where they can operate using reverse solicitation rules.
Limitless is one example of this. The prediction markets operator is owned by a company called Street Chow Inc, which is registered in Panama.
