Limitless Labs, a new prediction market company, recently raised $3 million in a seed round led by 1confirmation and others. The company focuses on building markets with fast expiration, mainly involving one-day price predictions for stocks or cryptocurrencies. Unlike competitors, they launched a user-generated market feature that allows users with large social media influence to create markets and earn rewards through trading volume.

Key Points

- Limitless Labs raised $3 million in a seed round led by 1confirmation.

- The market built by the company focuses on fast expiration, generally about the end-of-day price of stocks or cryptocurrencies.

- The current trading platform handles more than $200,000 in transactions per day.

- Compared with the industry leader Polymarket, Limitless is still a "small one".

- Limitless features a user-generated market feature that allows users to create markets and profit from them.

- The average time spent by platform users last week was four hours per week.

- Limitless plans to introduce external market makers to expand market influence.