Binance is preparing to expand into blockchain based prediction markets by introducing a new feature in its wallet that will aggregate services from third party providers.
According to data from the Binance wallet website, as reported by Wu Blockchain, the main current provider is Predict Fun, a decentralized prediction market protocol built on the BNB Smart Chain.
The upcoming feature will allow users to bet on a range of future outcomes, including sports events, economic indicators, global developments, and cryptocurrency related predictions.
To access the service, Binance users will need to update the mobile application to version 3.11.1 or 3.11.2 and later on Android. The prediction section will appear at the top of the Markets page, and users will be able to place trades using USDT from either their spot or funding accounts.
Other major exchanges have already entered the prediction market space. Platforms such as Coinbase and Crypto.com have begun offering similar services through partnerships or standalone products.
Prediction market platforms like Kalshi and Polymarket have seen rapid growth in recent months. Kalshi recently raised one billion dollars in funding, bringing its valuation to 22 billion dollars, while Polymarket secured an additional 600 million dollars from the Intercontinental Exchange.
Despite growing interest, these platforms continue to face regulatory challenges. Some countries have banned their services, with Argentina being the most recent jurisdiction to impose restrictions.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
