BitMEX Launches Political Prediction Markets, Featuring 4 Trades Related To US Election
In Brief
Crypto exchange BitMEX launched Prediction Markets, designed to forecast the outcomes of upcoming elections in the United States.
Cryptocurrency exchange BitMEX announced the introduction of four new Prediction Markets on its platform, designed to forecast the outcomes of upcoming elections in the United States.
Participants can place bets on whether Donald Trump or Kamala Harris will win the election, as well as on whether Jerome Powell or Gary Gensler will resign or be removed from their posts before their terms conclude.
The Prediction Markets contracts for Donald Trump and Kamala Harris will settle at 100% if either candidate wins the presidential election. These contracts are scheduled to expire at 12:00 UTC on November 29th, though early settlement may occur since election results are expected on November 5th.
The prediction market for whether Jerome Powell will resign or be removed from his position as Chairman of the Federal Reserve before his term ends offers a 100% settlement if he departs from the role before May 15th, 2026. This contract is set to expire at 12:00 UTC on May 26th.
Meanwhile, the market regarding whether Gary Gensler will resign or be removed from his role as Chairman of the United States Securities and Exchange Commission (SEC) provides a 100% settlement if he leaves the position before June 5th, 2026. This contract is scheduled to expire at 12:00 UTC on June 26th, 2026.
The taker fees for the contracts are set at 0.2%, while the maker fees are -0.05%. These contracts have commenced trading and are now available to users.
BitMEX Unveils Prediction Markets, Enabling Traders To Earn Returns
BitMEX is a cryptocurrency derivatives exchange that enables traders and investors to trade futures and perpetual swap contracts across various cryptocurrencies.
The platform introduced its Prediction Markets last year, offering an opportunity for traders to generate returns by predicting and taking positions on real-life event outcomes. These markets do not provide leverage, and settlement is completed in USDT. Payouts are determined by a bounded price range from 0 to 100. If an event happens prior to the contract’s expiration date, early settlement will apply. Each contract is valued between zero and one USD but is quoted in percentage terms.
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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.
