XO Market:- A former Polymarket user, Ali Habbabeh, frustrated by the Prediction markets’ result mechanisms, is now building his own platform, XO Market.
On July 1, his vision further got boost as his platform received half a million dollar ($500K) pre-seed funding from CyberFund, Delphi Ventures, and angel investors, including backers from the Polymarket ecosystem. Notably, several contributors were also the early adopters of Solana, Base, and Ethereum L2 ecosystems.
Delphi Ventures, with their funding said, “We’re proud to back XO in their mission to make prediction markets more expressive, accessible, and creator-driven.”
XO Market aims to work on solving the current issues plaguing the traditional Prediction markets. According to the project, these platforms are quite biased towards only US-politics focused events and are prone to resolution attacks. Its founder Ali Habbabeh believes that “Prediction markets were the prototype and Conviction Markets are the evolution”.
The Xo Conviction Market – What is it
XO is built using a sovereign chain of Celestia for data availablity. Unlike the exisiting Prediction market platforms, XO Market is a Conviction Market which will allow every “conviction” to be created as a market.
The AI agent-powered platform will allow users to create their desired market on any topic they have in mind. Be it a “niche” personal event or from elections and sports to crypto trends and cultural global events.
After the market is created and traded, the category specific AI Agent will then check the outcome complied with resolution rules. Further, it leverages open-source oracle tools like Reality.eth to ensure censorship-resistance in its permissionless prediction ecosystems.
This will ensure what XO Market Founder Ali Habbabeh says, “users should not have to go to social media to demand fairness of a “permissionsless” protocol.”
The functioning is in contrast to the leading platforms such as Polymarket and Kalshi which have stricter controls on what kind of markets can be created. For example, Polymarket offers curated markets, while Kalshi is regulated by the CFTC and only supports a limited set of pre-approved topics.
Prediction Markets Are Surging
XO Market’s launch and funding come at a time when onchain prediction markets are resurging, especially after a strong Q2 performance by Polymarket. It has crossed $140 million in monthly volume in June 2025 and signed a partnership with X. Kalshi, too, has seen renewed attention from institutional users.
Both of the platforms are close to achieving a Unicorn status too with Kalshi already crossing the $200 billion mark in Series C funding.
This revival is largely attributed to increased interest in crypto-native sports and election betting. Number of other new players such as Truemarkets are also coming in.
Thus, as another player, XO Market enters, the landscape is further set to see more competition and growth.
Disclaimer: The content may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.