DuelNow, an Arbitrum-based decentralized sports betting platform, has secured $11 million in a funding round led by GEM Digital Limited. This significant investment aims to enhance the platform's capabilities in the Web3 betting space. DuelNow offers a peer-to-peer marketplace that eliminates the need for a traditional bookie or house, allowing users to create or join wagers with low fees. The platform supports various cryptocurrencies, including USDT, USDC, ETH, ARB, and STMX. The funding round also saw participation from notable figures like Litecoin. Simon Yu, CEO of DuelNow, announced that the platform aims to disrupt the centralized model of sports betting through blockchain technology, providing a transparent and decentralized betting experience and taking the prediction market to the next level.