BlockBeats News, April 9th, Binance announced the launch of a prediction market, a new feature that allows users to participate in probability-based markets through integration with third-party platforms from the Binance application.
When Binance Wallet goes live, it will integrate with Predict.fun to provide market access, Predict.fun is a provider of on-chain prediction markets on the Binance Smart Chain (BSC). Prediction markets allow participants to bet on future outcomes in areas such as sports, economics, world events, culture, and cryptocurrency.
Each outcome (yes and no) is represented by a share priced between $0.01 and $0.99, representing the collective belief of participants in the likelihood of the outcome — for example, in a deep enough market, a share priced at $0.80 represents an 80% probability of that outcome occurring. When the market is settled, shares of the correct outcome will pay out $1.
