The entire crypto community is watching the 2024 US presidential election, but a group of people are not just watching, they are also betting big on Trump's victory on Polymarket, with trading volume soaring to hundreds of millions of dollars. The once niche prediction market has become an on-chain "casino hall" overnight. Prediction market projects like Augur have been around for a while, but the user experience is like a civil service website + an old-fashioned mobile phone interface, with poor liquidity, making it virtually unplayable.

On March 19, according to Decrypt, a new player called Yeet is quietly emerging, completing a $7.75 million financing round, led by Dragonfly, with angel investors such as Pudgy Penguins CEO Luca Netz and LayerZero CEO Bryan Pellegrino participating. So how does Yeet work? Can it hit the jackpot on this "betting on the future" track?

Yeet: The Crypto Version of "Las Vegas"

Yeet is a prediction market platform tailored for crypto users, offering a variety of traditional casino games such as blackjack and roulette, specifically catering to those with a huge risk appetite and a love for all-in bets in the crypto community. The track it is on - the prediction market (PredictionMarket) - is essentially using market mechanisms to "vote" on the future, combining financial speculation and gambling. In simple terms, it allows users to open markets and bet on major events on-chain, with the winners getting a huge payout and the losers only having themselves to blame.

Although prediction markets are not new, with veterans like Augur and Polymarket already in the game, Yeet is playing it more "crypto-native". It is not just a prediction market, but a combination of a casino and a Web3 speculative paradise, taking the thrill of on-chain slot machines to the extreme.

Currently, the prediction market is in a period of rapid growth, especially after the upgrade of DeFi gameplay, more and more people are addicted to high-risk, high-return products, even willing to bet on whether it will rain or a certain coin king will go crazy and spray. However, this track is not all smooth sailing, with regulatory uncertainty, smart contract vulnerabilities, and high user acquisition costs all posing challenges for players.

Although still in the early stage, Yeet has already secured $7.75 million in financing and the backing of industry heavyweights, causing quite a stir in the circle. The market share and user scale have not been disclosed yet, but judging from its gameplay and team background, Yeet is likely to become the new heavyweight in the prediction market, and this betting game has just begun.

Who are the masterminds behind the on-chain "slot machine" of Yeet?

The two founders of Yeet, Michael Anderson (alias Mando) and KeyboardMonkey, have vastly different styles but share the "gambler" gene. One is a far-sighted behind-the-scenes strategist, the other a short-term killer and wild player, their combination giving Yeet the DNA of a speculator.

I call Mando (Michael Anderson) the "behind-the-scenes strategist". Although his true identity has never been fully disclosed, Mando has rich experience in crypto trading and market operations, knowing how to leverage market sentiment and community momentum to create FOMO. KeyboardMonkey, as the name suggests, is the "wild beast" representative among crypto traders. Although the details of his background are scarce, his trading style is clear - short-term, technical analysis, precise capture of volatility, in other words, "getting rich through speed".

The combination of these two founders can be described as the perfect blend of "crypto + casino + speculation", with Yeet's DNA being all-in?

Financing Background: Who is Recharging Yeet?

Yeet secured $7.75 million in financing on March 19, 2025, with the most prominent investor being Dragonfly, a crypto VC that can be called the "Midas touch" of the crypto circle, having invested in projects like Avalanche and NearProtocol. Yeet also attracted a group of angel investors with traffic, technology, and resources, two of whom are particularly worth mentioning:

Luca Netz (Pudgy Penguins CEO), a top player in the NFT circle, has successfully grasped the secrets of community operations and brand building with his cute fat penguins, and his involvement means that Yeet may develop into an entertainment venue with cultural symbols and community consensus in the future.

The other is Bryan Pellegrino (LayerZero CEO), the helmsman of the cross-chain protocol LayerZero, whose technical background may enable Yeet to make more innovations in cross-chain liquidity and on-chain trading experience. If Yeet wants to become a true on-chain casino, Bryan's involvement is definitely an accelerator.

The $7.75 million financing amount is considered medium to high in the prediction market track, not astronomical, but enough for Yeet to quickly expand the market in the early stage. However, how the money will be spent, whether on heavy marketing or product optimization, is not yet revealed by Yeet. But with the backing of these investors, it can be assured that they are not just "opening a casino", but aiming for a larger crypto speculation ecosystem.

With the support of leading capital and crypto heavyweights, can this on-chain slot machine of Yeet hit the super jackpot?

As a new player in the crypto prediction market, Yeet has quickly emerged in the highly competitive track, with its unique feature being the bold integration of gambling elements and crypto-native characteristics. Perhaps, with the catalysis of market sentiment and speculative psychology, it can ignite a new wave of trading frenzy.

Although the product has not yet been fully launched, and the technical capabilities, market acceptance, and user experience remain to be tested, based on its financing lineup and team background, Yeet has the potential to become an industry disruptor. For crypto players who are passionate about high-risk, high-return, this may be a project worth keeping an eye on - is it the crypto version of "Las Vegas", or the next prediction market hegemon? Time will tell.

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