Binance Set to Introduce Prediction Market Feature in Its Wallet

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The current primary provider is Predict Fun.

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Summarize with AI

Binance wants to take advantage of the rapidly growing blockchain-based prediction markets by launching such a feature that will allow it to aggregate platforms from third-party providers.

Data from its own wallet website, cited by Wu Blockchain, shows that the current primary provider is Predict (Predict.fun), which is a decentralized prediction market protocol on the BNB Smart Chain.

The new product line will allow users to place bets on future outcomes from various fields, such as sports, economics, world events, and, of course, crypto.

Binance customers need to update the app on iOS to 3.11.1 and 3.11.2 (or later) for Android. The prediction section will be on top of the Markets page, and they can trade with USDT from their spot or funding accounts.

Some of Binance’s competitors, including Coinbase and Crypto.com, have already entered the predictions market industry, either via partnerships with third-party platforms or with standalone products.

Predictions market platforms such as Kalshi and Polymarket have skyrocketed in popularity in recent months. The former recently closed a $1 billion investment round, putting its valuation at $22 billion, while the latter raised another $600 million from the Intercontinental Exchange.