Predict.fun, a Binance in-app prediction market partner, has received additional investment from YZi Labs, a venture investor backed by Binance founder Changpeng Zhao (창펑 자오).
The Block reported recently that Susquehanna Crypto also participated in the round.
YZi Labs said on social media platform X, formerly Twitter, that it made a "strategic follow-on investment" in Predict.fun. It described Predict.fun as a "crypto-native prediction market platform" and said it would continue developing a capital-efficient on-chain prediction market.
Zhao has said he sees prediction markets as a major destination for crypto capital and expects the FIFA World Cup, to be held this summer, to increase activity on sports betting-style platforms. Binance previously said it was testing an in-app prediction market feature with Predict.fun. Predict.fun previously took part in a YZi Labs incubation program and is based on BNB Chain.
Prediction markets are services in which users trade on the outcomes of real-world events such as elections, sports and cultural events. Polymarket and Kalshi are leading the prediction market as they form partnerships with existing media brands.
Chi-gyu Hwang
delight@d-today.co.kr