US prediction markets start-up Onyx Odds has hired Nicholas Green as its inaugural general counsel.
Green joins from sports betting business Underdog Sports, where he was also GC. As Onyx’s legal head, he will oversee all legal and compliance matters.
New York-based Onyx is a prediction markets platform that enables users to bet on sports, crypto and other financial markets. In June, Onyx raised $20m in a Series A funding round led by Kraken parent company Payward.
Leul Dadi, founder and CEO of Onyx, said: “His deep industry experience and legal expertise will be invaluable as we continue to scale operations and launch our regulated prediction market platform. As we expand our product offering, we are equally focused on setting a high standard for player safety and responsible operations, and Nick will be central to these efforts.”
Green spent just under four years at Underdog, where he supported the company’s growth through several funding rounds and oversaw its acquisition of Aristotle Exchange’s contract market and derivatives clearing platforms, helping its transition from a fantasy sports into a real-money sports wagering and prediction markets business.
Prior to that, he spent just over nine years at Orrick Herrington & Sutfcliffe – two of them as partner – where his clients included gaming platforms such as FanDuel and DraftKings and sporting organisations including the MLB, NBA and PGA Tour.
Earlier in his career he was a staff attorney at the US Sentencing Commission.
He said: “It’s an exciting time for Onyx as we prepare to launch new products that will accelerate the company’s recent growth. Leul and the Onyx team have built an impressive company with a first-in-class customer experience, and I look forward to working with this talented group to capitalise on that momentum.”
In June, US sports prediction platform Novig hired Elie Mishory as chief regulatory and legal affairs officer following the company receiving approval from the US Commodity Futures Trading Commission as a ‘designated contract market’, allowing it to operate across all 50 US states.
Mishory previously worked for the Elon Musk-led Department of Government Efficiency, where he acted as its representative at the US Securities and Exchange Commission.
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