Fireplace, the prediction markets trading terminal that raised $1.5 million in February, told users on August 10 that it is shutting down and gave them until September 30 at 23:59 UTC to close positions, withdraw funds, and export their accounts.<\/p>\n
\u201cWe\u2019re shutting down Fireplace,\u201d the company posted. \u201cTo everyone who traded with us and supported us along the way, thank you. It was a hell of a run.\u201d No reason for the closure appears anywhere in the announcement, and a reply asking whether the problem was volume drew no response from the company. Fireplace asked anyone building in prediction markets and interested in its technology to contact the team directly. The terminal stays online until September 30 at 23:59 UTC.<\/p>\n
We\u2019re shutting down Fireplace.<\/p>\n
To everyone who traded with us and supported us along the way \u2013 thank you. It was a hell of a run.<\/p>\n
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\u2026<\/p>\n
\u2014 fireplace (@fireplacegg) August 10, 2026<\/a><\/p>\n\n 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.<\/p>\n 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.<\/p>\n The terminal aggregated markets, liquidity, and execution across venues, with real-time data, wallet and whale tracking, advanced charting, and smart order routing. \u201cPrediction markets are one of the most powerful financial primitives, but the user experience hasn\u2019t caught up,\u201d said Sumer Malhotra, Co-Founder and CEO. Co-Founder and CTO Akshay Rajagopal stated that prediction markets \u201cneeded their own Bloomberg Terminal.\u201d Fireplace was \u201cbuilding the professional interface that markets like Polymarket have been missing,\u201d noted Xavier Meegan, CIO of Frachtis.<\/p>\n 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.<\/p>\n Polymarket is in talks to raise<\/a> $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\u2019s worth knowing that Fireplace routed orders into Polymarket and Kalshi, the two platforms CryptoPotato ranks first and second among the best prediction markets<\/a>.<\/p>\n Venture firms invested<\/a> 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.<\/p>\n The post 195 Days and Done: Why This Crypto Prediction Platform Just Shut Down<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Fireplace, the prediction markets trading terminal that raised $1.5 million in February, told users on August 10 that it is shutting down and gave them until September 30 at 23:59 UTC to close positions, withdraw funds, and export their accounts. \u201cWe\u2019re shutting down Fireplace,\u201d the company posted. \u201cTo everyone who traded with us and supported […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-211641","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/211641"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=211641"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/211641\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=211641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=211641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=211641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Closure<\/h2>\n
A Few Prediction Venues Keep Raising Billions<\/h2>\n