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Sports BettingIndustry

New Jersey-based Prophet Exchange launches as first US sports betting exchange

New Jersey-based peer-to-peer sports betting exchange Prophet Exchange has launched following licensing approval from the New Jersey Division of Gaming Enforcement.

prophet exchange

Founded in 2018 by CEO Dean Sisun and COO Jake Benzaquen, it becomes the first sports betting exchange to legally establish itself in the US. The group noted that the pair have spent the last four years preparing for a US launch.

Prophet Exchange will initially offer moneyline, spread and total markets for NFL, NBA, NHL, MLB, NCAA football and basketball games, and will continue to add new sports and markets as the platform scales.

“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,” said Prophet Exchange Co-Founder and CEO Dean Sisun. “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.”

NFL World Champion Victor Cruz, a Strategic Partner and Brand Ambassador of the group, became the first bettor on the US sports betting exchange by matching multiple $100 bets with others on Prophet Exchange.

Prophet Exchange Co-Founder and COO Jake Benzaquen commented: “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.”

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