Coinbase Ventures, CMCC Global back prediction-market market maker Raven

Coinbase Ventures and CMCC Global have made a strategic investment in Raven, a trading firm focused on crypto and prediction markets, CNBC reported. The investment amount was not disclosed, and the company was valued at $90 million before the funding round. Raven provides liquidity on prediction markets including Kalshi and Polymarket by continuously placing buy and sell orders, and has quoted prices on more than 3,000 contracts across sports, crypto, macroeconomics and entertainment.