The site stays open until the end of September so you can close positions, withdraw funds, and export your account. Please do it before September…
— fireplace (@fireplacegg) August 10, 2026
Closure
Fireplace launched publicly on January 27 and announced its pre-seed round on February 18, putting 195 days between the launch and the wind-down.
Frachtis led the round, joined by White Star Capital and syndicate rounds on Legion and Echo. Fireplace said at the time that it had more than 30,000 traders on a waitlist, over 10,000 followers on X, and the Polymarket builders badge.
The terminal aggregated markets, liquidity, and execution across venues, with real-time data, wallet and whale tracking, advanced charting, and smart order routing. “Prediction markets are one of the most powerful financial primitives, but the user experience hasn’t caught up,” said Sumer Malhotra, Co-Founder and CEO. Co-Founder and CTO Akshay Rajagopal stated that prediction markets “needed their own Bloomberg Terminal.” Fireplace was “building the professional interface that markets like Polymarket have been missing,” noted Xavier Meegan, CIO of Frachtis.
A Few Prediction Venues Keep Raising Billions
Kalshi closed a $1 billion Series F on May 7 at a $22 billion valuation, led by Coatue alongside Sequoia Capital, Andreessen Horowitz, IVP, Paradigm, Morgan Stanley, and ARK Invest. The exchange said its annualized trading volume climbed from $52 billion to $178 billion over six months and that it handles more than 90% of US prediction market activity.
- Teleprompter Operator Accused in Kalshi Betting Case Is No Longer a Federal Employee
- Robinhood’s Q2 Revenue Hits Record $1.31B as Prediction Markets Fuel 10x Surge in Event Contracts
- New York Sues Kalshi as Legal Pressure on Prediction Markets Intensifies
Polymarket is in talks to raise $400 million at a valuation near $15 billion, and NYSE parent Intercontinental Exchange has committed about $2 billion to the company across two investments. It’s worth knowing that Fireplace routed orders into Polymarket and Kalshi, the two platforms CryptoPotato ranks first and second among the best prediction markets.
Venture firms invested roughly $4 billion across 355 crypto and blockchain deals in the first quarter of 2026, a 50% drop in capital quarter over quarter and a 16% fall in deal count, according to Galaxy Digital.
