Binance is beta-testing a feature in its wallet app that lets users participate in on-chain prediction markets, The Block reported on Monday. Binance is offering the feature through a third-party provider integration and is working with BNB Smart Chain-based protocol Predict.fun to integrate prediction markets into Binance Wallet.
Binance said users must set up a dedicated prediction account separate from a spot account to trade in prediction markets. Prediction markets are services that allow trading on the outcomes of real-world events such as elections, sports and cultural events. Binance said each outcome is split into "yes" or "no", with share prices for each outcome set between $0.01 and $0.99. The company said prices reflect probabilities assessed by participants.
The launch date and the countries and regions where it will be offered have not yet been decided. A Binance spokesperson said, "We are beta-testing in-app access to on-chain prediction markets through third-party integration," and added, "We will announce it through official channels when we are ready."
Chi-gyu Hwang
delight@d-today.co.kr