Prediction market rivals back new venture fund

A new venture capital firm, 5c(c) Capital, is raising $35 million to invest in prediction market startups. The fund has secured backing from prominent figures in the tech and crypto industries, including the CEOs of leading prediction markets Polymarket and Kalshi, Shayne Coplan and Tarek Mansour, respectively. Additional support comes from Marc Andreessen of a16z, Micky Malka of Ribbit Capital, and Kyle Samani. The firm, named after a clause in the Commodity Exchange Act concerning CFTC oversight of event contracts, aims to capitalize on the growing interest and investment flowing into the prediction market sector.