Backpack rolls out unified prediction market portfolio

Backpack CEO Armani Ferrante announced the launch of the unified prediction portfolio on January 13 through his social media platform. He said that the platform is an invite-only private beta intended to transform prediction markets. 

Ferrante stated that the unified prediction portfolio allows traders to seamlessly deploy capital across various assets, including spot, spot-margin, loans, perpetual futures, predictions, cryptocurrencies, and fiat, within a single unified margin account. Users will be able to trade predictions, instantly hedge via perpetuals, and manage their portfolio in a single system with access to blockchain networks, currency gateways, and order types such as TP/SL, TWAP, or grid bots.

Ferrante says unified portfolio fixes market inefficiencies, fuels growth

Armani Ferrante pointed out inefficiencies in conventional prediction markets, noting that money is frequently locked in a single forecast for the duration of an event. He clarified that the high opportunity cost of tied-up capital can make it difficult for traders to capitalize on opportunities. 

Ferrante further stated that through a unified prediction portfolio, users will efficiently allocate their capital across all of Backpack’s markets without losing access to other positions or fragmenting balances.

Ferrante announced that evaluating the unified prediction portfolio’s main features, such as its risk engine, will be the beta’s primary goal. Backpack intends to grow the beta group, add additional features, and scale the number of markets over time, He said. 

He claimed that the platform’s vertically integrated system would eventually enable trading capabilities and procedures that have never been available in the cryptocurrency and banking industries.

In the announcement, Ferrante said Backpack’s registration process will be used to allow access to the beta. He mentioned that the most active traders on the marketplace will receive invitations first. Ferrante revealed that in the upcoming months, feedback from these users will help ensure that every test member has a seamless experience.

The launch of the unified prediction portfolio coincides with the Backpack’s fourth season and the plan for 2026 to expand regulatory coverage from 48% of the world to include global new products, such as cards, stocks, vaults, and pre-market perps.

Prediction markets surge as volume and open interest hit records

Prediction markets are gaining traction in the crypto space. As of January 14, the Backpack statistics page revealed the overall trading volume was $376.7 billion, with $326.7 million in open interest, $388.9 million in total loans, and $103.9 million in total loaned. ETH, BTC, SOL, and their derivatives BTC-PERP, ETH-PERP, and SOL-PERP, were the main drivers of activity, demonstrating strong participation in both spot and perpetual markets.

Dune analytics revealed that prediction market Polymarket recorded a weekly $1.2 billion and more than $70 million in 24-hour trading volume. Within a 30-day period, Polymarket achieved a trading volume of $4.9.

According to a recent Cryptopolitan report, the daily volume of prediction markets surpassed $700 million, setting a new record. The report revealed that Kalshi led the market with a 66.4% overall market share and achieved a record-breaking $466 million in single-day volume on Monday.

Data from Dune showed that Polymarket and Opinion followed the trend, accounting for 14.3% of the entire prediction market volume, or $100.04 million and $100 million, respectively. Predict Fun recorded a daily volume of $18.04 million, a 2.6% increase, and Probable took 2.0% ($13.90 million). SX Bet lagged behind the competition with only 0.3% of daily volume at $1.88 million.

As of today, Kalshi still dominates the prediction markets with an Open Interest of $355.57 million, a 44.2% locked-in value over 10,000 active contracts. Polymarket trails closed behind with $289.33 million, a 36% gain, while Opinion comes in third with $129.75 million, a 16.1% rise.

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