Binance Launches Prediction Markets Allowing In-App Trading Of Real-World Event Outcomes
In Brief
Binance launches Prediction Markets, allowing users in supported regions to trade outcomes via Keyless Wallets using Market or Limit Orders and track positions securely within the app.
Cryptocurrency exchange Binance has announced the launch of its new prediction markets, enabling users to participate in probability-based trading directly through the Binance App via integration with third-party platforms. The feature allows users to take positions on the outcomes of real-world events across a variety of categories, including sports, economics, global events, culture, and cryptocurrency.
At launch, Binance Wallet will provide access to markets hosted by Predict.fun, a leading on-chain prediction market provider on the BNB Smart Chain (BSC). The integration is designed to simplify participation, allowing users to trade directly using balances from their Spot and Funding Accounts without the need for additional setup. Binance Wallet will cover all transaction and settlement fees, providing a gasless trading experience. Trades can be executed using either Market Orders or Limit Orders, offering flexibility, while Binance Wallet’s Keyless MPC technology adds an additional layer of security for participants.
Prediction markets function by representing possible outcomes with YES and NO shares, each priced between $0.01 and $0.99 to reflect the collective market view of the likelihood of the event occurring. For example, a share priced at $0.80 in a sufficiently liquid market would indicate an 80% probability of the outcome happening. When a market resolves, the correct outcome pays out $1 per share.
Binance Enables Keyless Wallet Access For Prediction Markets With Market And Limit Order Trading
Users can access the feature by navigating to the Markets tab in the Binance App and selecting the Prediction section, which is available in supported regions. First-time participants are prompted to create a Binance Wallet Prediction Account, which automatically generates a secure Keyless Wallet for trading. Users can then place trades using available Spot and Funding balances or by topping up their Prediction Account. Trades are executed through Market or Limit Orders, and participants can track positions, claim winnings, and view their transaction history under the Assets > Prediction section of the app.
The launch of Binance Prediction Markets represents a move to expand user engagement in decentralized financial applications while offering a streamlined, secure, and cost-free entry into probability-based trading on-chain.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
