CZ Announces Launch of Predict.fun Prediction Market on BNB Chain

• Changpeng Zhao announced the launch of a prediction platform.
• Predict.fun will be powered by BNB Chain.
• The platform already has more than 12,000 users.

Changpeng Zhao (CZ), founder of crypto exchange Binance, announced the launch of the Predict.fun prediction marketplace on the BNB Chain blockchain.

CZ said the service was developed by a former Binance employee, and the investor was venture capital firm Yzi Labs (formerly Binance Labs). Predict.fun allows you to make predictions on events and simultaneously profit from blocked assets for as long as the bet remains open, Zhao noted.

CoinDesk emphasized that there are currently two markets available on the platform with a total betting volume of about $300,000. The total number of users exceeds 12,000.

However, according to journalists, despite the startup activity, Predict.fun is significantly behind such platforms as Polymarket (more than $3 billion), Kalshi (about $587 million) and Limitless (about $10.9 million) in terms of trading volumes.

They also emphasized that other services have already implemented reward systems — staking, treasury bonuses, points – to retain users and compensate for long blocked funds.

Recall, earlier the team of cryptocurrency Trust Wallet announced the launch of a prediction market.