Binance, the world’s largest cryptocurrency exchange, said on Tuesday that it is rolling out a new prediction market feature directly within its self-custodial crypto wallet. This allows users to speculate on the outcomes of real-life events such as sports, politics and cryptocurrency-related developments, without leaving the wallet.
Binance offers a prediction market feature in Wallet
Binance will bundle prediction market features into its crypto wallet through third-party providers. Predict.fun, a decentralized predictive market protocol running on the BNB Smart Chain, currently serves as an underlying provider, according to Frequently asked questions page Published on March 31.
Users must create a dedicated predictive account, different from their spot trading accounts, to participate in event contract trading. New event proposals may be submitted exclusively through third party service providers.
The prediction market feature allows users to trade real-world outcomes covering a wide range of events, including politics, sports, cryptocurrency development, and more. This allows access to multiple forecasting platforms while maintaining the security of the self-portfolio.
Crypto platforms are expanding into this new market
Binance Wallet’s integration with prediction markets follows industry trends. Many cryptocurrency companies are integrating forecasting tools. Binance-owned Trust Wallet has also added prediction market features, using providers such as Myriad Markets and Predict.fun.
Coinbase has expanded its prediction market Offers to users across the US through a partnership with Kalshi. Additional platforms, including MetaMask and Crypto.com, have similarly launched prediction market features.
However, prediction markets still face regulatory scrutiny. As previously reported by CoinGape, US Senators Adam Schiff and John Curtis have introduced a bipartisan bill to Banning sports betting in prediction markets Such as Calcio and Polymarket
Kalshi and Polymarket have taken measures to prevent insider trading and market manipulation. Calci has introduced new screening tools, while Polymarket has expanded restrictions to address market abuse.
The prediction market feature within Binance Wallet provides convenience and cross-chain execution. They may also include return generation mechanisms similar to those found in BNB blockchain-based platforms, where accumulated funds continue to generate returns while adhering to predictions.
