Fire, the prediction markets buying and selling terminal that raised $1.5 million in February, instructed customers on August 10 that it’s shutting down and gave them till September 30 at 23:59 UTC to shut positions, withdraw funds, and export their accounts.
“We’re shutting down Fire,” the corporate posted. “To everybody who traded with us and supported us alongside the way in which, thanks. It was a hell of a run.” No cause for the closure seems anyplace within the announcement, and a reply asking whether or not the issue was quantity drew no response from the corporate. Fire requested anybody constructing in prediction markets and desirous about its expertise to contact the crew instantly. The terminal stays on-line till September 30 at 23:59 UTC.
We’re shutting down Fire.
To everybody who traded with us and supported us alongside the way in which – thanks. It was a hell of a run.
The positioning stays open till the top of September so you may shut positions, withdraw funds, and export your account. Please do it earlier than September…
— fire (@fireplacegg) August 10, 2026
Closure
Fire launched publicly on January 27 and introduced its pre-seed spherical on February 18, placing 195 days between the launch and the wind-down.
Frachtis led the spherical, joined by White Star Capital and syndicate rounds on Legion and Echo. Fire mentioned on the time that it had greater than 30,000 merchants on a waitlist, over 10,000 followers on X, and the Polymarket builders badge.
The terminal aggregated markets, liquidity, and execution throughout venues, with real-time information, pockets and whale monitoring, superior charting, and good order routing. “Prediction markets are probably the most highly effective monetary primitives, however the consumer expertise hasn’t caught up,” mentioned Sumer Malhotra, Co-Founder and CEO. Co-Founder and CTO Akshay Rajagopal said that prediction markets “wanted their very own Bloomberg Terminal.” Fire was “constructing the skilled interface that markets like Polymarket have been lacking,” famous Xavier Meegan, CIO of Frachtis.
A Few Prediction Venues Preserve Elevating Billions
Kalshi closed a $1 billion Collection F on Might 7 at a $22 billion valuation, led by Coatue alongside Sequoia Capital, Andreessen Horowitz, IVP, Paradigm, Morgan Stanley, and ARK Make investments. The change mentioned its annualized buying and selling quantity climbed from $52 billion to $178 billion over six months and that it handles greater than 90% of US prediction market exercise.
Polymarket is in talks to lift $400 million at a valuation close to $15 billion, and NYSE father or mother Intercontinental Change has dedicated about $2 billion to the corporate throughout two investments. It’s value understanding that Fire routed orders into Polymarket and Kalshi, the 2 platforms CryptoPotato ranks first and second among the many greatest prediction markets.
Enterprise companies invested roughly $4 billion throughout 355 crypto and blockchain offers within the first quarter of 2026, a 50% drop in capital quarter over quarter and a 16% fall in deal rely, in accordance with Galaxy Digital.
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