Share this article
Hedgehog Markets Raises $3.5M in Funding Round
The company is testing what will be the first predictions platform on Solana's blockchain.
Updated May 9, 2023, 3:22 a.m. Published Jul 27, 2021, 2:31 p.m.
Hedgehog Markets has raised $3.5 million in a funding round that included the Solana Foundation and Sam Bankman-Fried’s Alameda Research. (Bankman-Fried is a 29-year-old billionaire who founded the FTX crypto exchange.)
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The Hedgehog Markets site, which is in a testing phase with more than 6,000 registered users, will be the first prediction market platform to go live on Solana’s blockchain.
Decentralized prediction markets like Augur, Gnosis and Polymarket have gained some traction, but the team behind Hedgehog believes there’s still plenty of market share to capture, especially on Solana. These products allow users to open a betting market on blockchain-based platform.
According to George Yu, the founder of Hedgehog, the company’s decision to launch on Solana was based on the blockchain’s fast transaction speeds and low gas fees, which Yu believes is integral to Hedgehog’s goal of being the most user-friendly prediction platform for newcomers to the crypto sector.
Yu told CoinDesk that Hedgehog’s most popular markets in beta testing have been sports, politics, crypto and COVID-19.
Yu said the money raised in the seed round will be used to hire additional engineers, expand the platform’s product features and increase its user base.
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Tensions over El Salvador's bitcoin holdings ease as IMF praises economic progress
The Central American country’s economy is projected to grow 4% this year, the IMF said.
What to know:
- The IMF praised El Salvador's stronger-than-expected economic growth and progress in bitcoin-related discussions.
- El Salvador's real GDP growth is projected to reach around 4%, with a positive outlook for 2026.
- Despite previous IMF recommendations, El Salvador continues to increase its bitcoin holdings, adding over 1,000 BTC during November's market downturn.
Top Stories
