Binance Integrates 'Bet on the Future' Prediction Market Betting Feature In-App

▲ Binance, Prediction Market / AI Generated Image

Binance is accelerating its expansion of on-chain services by introducing a 'prediction market' feature that allows users to directly bet on future events within the app.

According to reports from cryptocurrency media on April 9 (local time), Binance Wallet has officially launched a feature that allows participation in prediction markets within the app through integration with external platforms. This feature is designed to enable on-chain transactions directly within the Binance app without needing to access a separate decentralized application (DApp).

The key is 'accessibility'. Users can utilize their existing funds to predict and bet on outcomes in various fields such as sports, economics, global events, and cryptocurrencies. Each outcome's price is formed as a probability, reflecting the collective expectations of participants in the market price structure.

This service was implemented through integration with 'Predict.fun', a prediction market platform based on the BNB Smart Chain. Actual transactions and settlement of results are processed on-chain via the platform's smart contracts, while Binance plays the role of providing the user interface and access pathway.

User convenience has also been significantly enhanced. Users can access the prediction market with one click within the app, and a 'gas-free transaction' environment is provided, allowing trades without separate fees. Furthermore, it supports both market and limit orders, making it usable in a similar way to existing exchanges.

In terms of security, the wallet structure utilizing keyless MPC technology is applied to protect user assets. This design allows for the use of on-chain services without the complex management of private keys.

Industry observers interpret this feature as part of Binance's strategy to evolve beyond a simple exchange into an 'on-chain super app'. Indeed, Binance has been expanding its product structure to increase accessibility to various decentralized services and extend user retention time.

However, prediction markets are an area that simultaneously carries regulatory risks and speculative controversies. The structure where the platform does not directly operate the market but integrates with external protocols is also seen as a strategy to distribute these burdens.

As the virtual asset market expands beyond simple trading to various on-chain use cases, prediction markets are emerging as a key sector attracting new demand.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*