Crypto.com prediction market

[Oshosondy]

Casinos Meet Prediction Markets: Crypto.com Partners With NYSE-Listed High Roller Technologies

It has been few weeks ago that Crypto.com said they will have their own prediction market, I think it is getting closer already as they partnered with High Roller Technologies, Inc. ("High Roller") (NYSE: ROLR), operator of the award-winning, premium online casino brands High Roller and Fruta, today announced that it has executed a Definitive Agreement (the "Agreement") with Crypto.com | Derivatives North America ("CDNA") to launch an event-based prediction markets offering, initially in the United States.

According to the second source, Binance and Gate Gate Gabe launched their own prediction launched their own prediction markets. Binance rolled out in‑app prediction markets through an integration with Predict.fun. Last month, Gate.io became the first centralized exchange to integrate Polymarket, launching a public beta that lets users access on‑chain prediction markets from within the Gate app

Read both news to understand better:

https://ir.highroller.com/news-events/press-releases/detail/145/high-roller-technologies-executes-definitive-agreement-with
https://www.financemagnates.com/cryptocurrency/casinos-meet-prediction-markets-cryptocom-partners-with-nyse-listed-high-roller-technologies/

Should this be in exchanges board or gambling discussion board?

[cryptoaddictchie]

According to some sources, Binance and Gate are also planning to launch their own prediction markets.

I think Binance just did launch their prediction market feature 5days ago. ^{Tied up with a third party project}.Was shocked to actually see this! So Crypto.com is doing theirs too.

Should this be in exchanges board or gambling discussion board?

Quite confusing indeed since the topic is about Prediction market which Ive have seen a lot on this particular board but since major cex trading platform was involved in discussion then Im not sure.

[Oshosondy]

I think Binance just did launch their prediction market feature 5days ago. ^{Tied up with a third party project}.Was shocked to actually see this! So Crypto.com is doing theirs too.

Thanks for letting me know that, I have edited and corrected what I should correct. It is what that is also on the news, Gate launched its own prediction market last month but according to the article, it integrated polymarket directly on Gate app but still beta version. I am using Gate but I have not seen it on Gate, probably because it is still a beta version.

According to the second source, Binance and Gate Gate Gabe launched their own prediction launched their own prediction markets. Binance rolled out in‑app prediction markets through an integration with Predict.fun. Last month, Gate.io became the first centralized exchange to integrate Polymarket, launching a public beta that lets users access on‑chain prediction markets from within the Gate app

[Davidvictorson]

Crypto exchanges don't want to be left behind. They are in competition with online casinos to have a prediction market feature on their website. I have seen this in one of the casinos lately.
At some point, I think the main prediction market companies may come for these folks (I may be wrong). If they don't they may have to be very innovative to add a feature that exchanges and casinos cannot replicate.
I think this it fits perfectly in this board.

[Dogedegen]

According to some sources, Binance and Gate are also planning to launch their own prediction markets.

I think Binance just did launch their prediction market feature 5days ago. ^{Tied up with a third party project}.Was shocked to actually see this! So Crypto.com is doing theirs too.

Why are you shocked I don't understand? The main crypto players have been investing in everything they can get their hands too, many even scam projects. They are chasing the money like everyone else, the difference is that they have funds to do a lot of big things. Especially in this cycle there was a big chase for the next big things as the market has severely under-performed since too many scams happened with meme tokens. Remember how Binance invested in their own DEX similar to Hyperliquid? With Polymarket being so successful and profitable, it was only a matter of time before many of these got involved with this. Although I am not a big fan of what they do, because it fragments the liquidity of the players and having too many platforms actually reduces the user experience. It will only be good if they actually end up making the industry more competitive and the companies change things for the better as they compete with each other.

Crypto exchanges don't want to be left behind. They are in competition with online casinos to have a prediction market feature on their website. I have seen this in one of the casinos lately.
At some point, I think the main prediction market companies may come for these folks (I may be wrong). If they don't they may have to be very innovative to add a feature that exchanges and casinos cannot replicate.

I didn't understand this part, they are going to come for who? The casinos or the exchanges? I don't think you are aware of how rich both big casinos and exchanges are, nobody is going to come for them. They are extremely profitable businesses for their own reasons, and even if they are not able to successfully penetrate into the prediction markets this won't make them vulnerable to acquisitions. Their business models will continue with or without these extra markets.

[_act_]

Crypto exchanges don't want to be left behind. They are in competition with online casinos to have a prediction market feature on their website. I have seen this in one of the casinos lately.
At some point, I think the main prediction market companies may come for these folks (I may be wrong). If they don't they may have to be very innovative to add a feature that exchanges and casinos cannot replicate.

I didn't understand this part, they are going to come for who? The casinos or the exchanges? I don't think you are aware of how rich both big casinos and exchanges are, nobody is going to come for them. They are extremely profitable businesses for their own reasons, and even if they are not able to successfully penetrate into the prediction markets this won't make them vulnerable to acquisitions. Their business models will continue with or without these extra markets.

No one will come for another, but their will only be competition.

Another thing is that they are not directly going into prediction markets because they are afraid of regulations, so they are partnering with other companies that know about these regulations.

Example is Coinbase prediction market, Coinbase partnered with Kalshi. Crypto.com partnered with High Roller Technologies. Binance partnered with Predict.fun. I think Gate partnered with Polymarket.

So the market will only just be highly competitive and which is very good.

[acroman08]

Should this be in exchanges board or gambling discussion board?

Just to be clear, you are asking whether discussing Crypto.com's prediction market is okay to be posted here? If so, if the discussion revolves around their prediction market, I think it's appropriate for it to be posted here. I mean, discussions about prediction markets have been posted here, so I don't really see any reason why it shouldn't be posted here, even if the prediction market is integrated into their website.

[cryptoaddictchie]

Thanks for letting me know that, I have edited and corrected what I should correct. It is what that is also on the news, Gate launched its own prediction market last month but according to the article, it integrated polymarket directly on Gate app but still beta version. I am using Gate but I have not seen it on Gate, probably because it is still a beta version.

Oh no problem. Its just that I often followed Binance related activity including what I shared. Though Im not a user of gateio thats why I didnt have much info on them. Yeah thats right noticed you asked if they launch it but included in your shared article already.

Why are you shocked I don't understand? The main crypto players have been investing in everything they can get their hands too, many even scam projects.

Oh because prediction market is quite a trend now and their following the narrative now. Its pretty much out of their forte so indeed it was shocking.

[coinrifft]

Crypto exchanges don't want to be left behind. They are in competition with online casinos to have a prediction market feature on their website. I have seen this in one of the casinos lately.
At some point, I think the main prediction market companies may come for these folks (I may be wrong). If they don't they may have to be very innovative to add a feature that exchanges and casinos cannot replicate.
I think this it fits perfectly in this board.

It's a billion dollar business that why we have seen bigger entities now coming to the prediction market as they want to get a piece of that pie. Nevertheless, we have seen the two prediction service under the scrutiny of the authorities, so Crypto.com will have to be very careful about it and try to make and please the regulators so that they won't go after them. I think it fits the gambling board as for sure every gambler although not everyone here is on the prediction market, could be interested to see how everything unfold as this is going to be a big market and competition will be the tight.

[Potato Chips]

Oh so they parted ways with kalshi? I remember reading an article some time ago, crypto.com partnered with kalshi to launch prediction market.

This makes me wonder why they parted ways. Maybe they couldn't take the legal heat kalshi has been receiving left and right. 😅

In any case, I expect more exchanges to jump to prediction market as they're always lookin' for opportunities and following trends.

[rdbase]

Should this be in exchanges board or gambling discussion board?

Just to be clear, you are asking whether discussing Crypto.com's prediction market is okay to be posted here? If so, if the discussion revolves around their prediction market, I think it's appropriate for it to be posted here. I mean, discussions about prediction markets have been posted here, so I don't really see any reason why it shouldn't be posted here, even if the prediction market is integrated into their website.

Having been discussing prediction markets in this topic for awhile now and even have made a thread asking whether they are considered gambling.
So in my mind, this does belong here since places have outright banned it's use in their own countries due to this being the problem and against their laws.

Oh so they parted ways with kalshi? I remember reading an article some time ago, crypto.com partnered with kalshi to launch prediction market.

This makes me wonder why they parted ways. Maybe they couldn't take the legal heat kalshi has been receiving left and right. 😅

In any case, I expect more exchanges to jump to prediction market as they're always lookin' for opportunities and following trends.

Did not even know they had partnered with them. It must of been for a short time because they have had problems of their own with regulations in other countries aswell. And adding another company who are themselves being in hot water does not help their case whether they are legally allowed to operate in those countries or not.

[alegotardo]

Interesting... none of these sites ever showed any interest to create betting sections on their sites, yet when it comes to the prediction market, we see that several crypto companies are investing in it, primarily exchanges.

I ca not wait to see what happens when some countries starting to treating the predictions as if it were the exact same thing as gambling!
Honestly, I think there is a significant difference: gambling is more directed to entertainment and predictions are more closer to trade. However, I would not be surprised if they soon get lumped into the same category, given that most people engage in both with the sole aim of making money.

[Darker45]

Here come the competitors. And why not, right? The prediction market is a huge market right now, and with an even bigger potential. Polymarket and Kalshi, each has billions in monthly trading volume. Crypto.com, Binance, and others must be fully aware of the mouth-watering figures. It's a great market to make more money.

As to whether which board this belongs to, I've always maintained my opinion that the prediction market is gambling despite its design. But considering that Crypto.com and the others mentioned are basically exchanges, and since the prediction market involves trades, it could also be discussed on the exchanges board.

[Charles-Tim]

I ca not wait to see what happens when some countries starting to treating the predictions as if it were the exact same thing as gambling!
Honestly, I think there is a significant difference: gambling is more directed to entertainment and predictions are more closer to trade. However, I would not be surprised if they soon get lumped into the same category, given that most people engage in both with the sole aim of making money.

Like in United States, there has been a legal battle that prediction markets are gambling but the prediction markets are always saying they are not gambling.

I also see them as gambling.

Prediction market is not more about trading to me, it is more about gambling that is kind of also similar to trading.

[OgNasty]

All the crypto exchanges seem to be jumping on the prediction market wagon. I wonder why online casinos haven’t seemed to embrace it yet. For sure prediction markets must be coming to online gambling platforms right, or do they not want users tying up their funds in long bets?

[yhiaali3]

I use Binance app but I didn't notice the new feature related to prediction markets within the app through integration with the Predict.fun platform. Or perhaps it is currently available in a few countries and not available in my country. I don't know exactly, but I will look for it.

In my opinion, the prediction markets have become a huge sector that is growing faster than the currency market itself, and therefore these large exchanges are trying to enter this rapidly growing sector early to ensure they get their share early, especially due to the growing popularity of the prediction market and in light of the bearish crypto market.

[Kelward]

This should put to rest the speculations in some quarters whether prediction markets would last because of the visible insider trading that it is a market that can be manipulated by insiders who are privileged to information. But clearly with the involvements of exchanges into the market it shows that prediction market is gaining strength and there is no stoping it. Another clear fact now is that it is a profitable industry like the casino industry so traders have more than two major platforms to predict and try their luck. The growth of prediction market is quite phenomenal, from people being skeptical about the types of unusual events that are available to make trade to actually accepting it.

[OsaiEmma]

Should this be in exchanges board or gambling discussion board?

Is prediction market, and polymarket really gambling? I feel it leans more towards trading than gambling, and maybe that's why these CExs(Centralized exchanges) are adopting it. Centralized exchanges (CExs) are not exactly in the gambling market, or are they? Anyways I really want to know where these markets (poly and prediction market) leans more towards, is it gambling or trading?

[iv4n]

Should this be in exchanges board or gambling discussion board?

Is prediction market, and polymarket really gambling? I feel it leans more towards trading than gambling, and maybe that's why these CExs(Centralized exchanges) are adopting it. Centralized exchanges (CExs) are not exactly in the gambling market, or are they? Anyways I really want to know where these markets (poly and prediction market) leans more towards, is it gambling or trading?

It's all gambling... Prediction markets are in the gray zone, I guess it's because of regulations. So you can call it a prediction market, trading, or whatever you want... and maybe buying/selling positions sounds better/smarter than placing a bet, but it's all gambling. How else would anyone describe so many crazy markets, like will Donald Trump make more than 3 tweets tomorrow?

I am not surprised... exchanges are pushing themselves into prediction markets, and now betting is easier and more accessible than ever. It's a win-win situation for exchanges and prediction markets.

[Dave1]

All the crypto exchanges seem to be jumping on the prediction market wagon. I wonder why online casinos haven’t seemed to embrace it yet. For sure prediction markets must be coming to online gambling platforms right, or do they not want users tying up their funds in long bets?

Maybe they don't want to attract the heat, remember that there are a lot of eyes on crypto base platform, and it evolved so much that everyone is mandating KYC per regulators. So if they would include prediction market then that could be another case of regulations again which the casino doesn't want to.

So they might have let this slide for a while and see how prediction market is. In any case it could be the same with crypto base platforms as regulators will go on a witch hunt and the what they don't want, enforce KYC for their customers to break those who are taking advantage of prediction market with insider trading and other manipulations.