Casino and crypto Exchange offering prediction service.

[Chibit01]

It's no longer news of how the prediction market popularity is growing, with most services now involving them in their service. Recently I just got notification of one of the centralized exchanges I make use of offering a prediction service at some events just like what we have in poly market and Kalshi.

I will understand when I see such options made available in casino as it can be to be their means of still trying to retain their customers, but I don't get it for exchanges what are they competing with.

Among both industries, which do you consider to be more suitable to offer prediction services and which of them can you easily trust to use if you are not to use any of the popular markets?

[yahoo62278]

It's no longer news of how the prediction market popularity is growing, with most services now involving them in their service. Recently I just got notification of one of the centralized exchanges I make use of offering a prediction service at some events just like what we have in poly market and Kalshi.

I will understand when I see such options made available in casino as it can be to be their means of still trying to retain their customers, but I don't get it for exchanges what are they competing with.

Among both industries, which do you consider to be more suitable to offer prediction services and which of them can you easily trust to use if you are not to use any of the popular markets?

I saw the coinbase had prediction markets as well. Seems everyone is trying to cash in on the prediction markets. Can't really blame them though, it's hugely popular and lot's of money flowing through the prediction markets.

[Oshosondy]

I will understand when I see such options made available in casino as it can be to be their means of still trying to retain their customers, but I don't get it for exchanges what are they competing with.

Among both industries, which do you consider to be more suitable to offer prediction services and which of them can you easily trust to use if you are not to use any of the popular markets?

The CFTC in the United States regulates prediction markets, but it is not the regulator that is regulating gambling.

Almost all the exchanges that I am using like Binance, Gate, MEXC and many other ones are offering prediction services now.

[free-bit.co.in]

I don't get it for exchanges what are they competing with.

Exchanges aren't just competing for crypto trading. They are looking to keep user attention, trading volume, fees & overall financial activity on their platform. Coinbase has now integrated Kalshi operated prediction market. And Binance Wallet has also gone in same direction with 3rd party prediction market provider.

[$crypto$]

You mean the exchanges offering this are competing for what? Don't you think this is an advantage for the exchange?

The prediction market is still in the gray area, is it purely betting or trading? Then his prediction market licensing rules remains unclear.

Casinos integrate prediction markets because there gamblers can bet on any sport, exchanges take advantage of existing trades in the betting markets.

Both her want to benefit from her popular Poly and Kalshi.

[BALIK]

Among both industries, which do you consider to be more suitable to offer prediction services and which of them can you easily trust to use if you are not to use any of the popular markets?

To me, the fit of prediction market with casino is more obvious. Because both have wagering behavior. But advantage of exchange is that their existing user are already used to trading with probability and risk. And we are also used to price movement. So prediction market must be natural cross sell for them.

Actually this sector is no longer a niche. Afaik, Kalshi and Polymarket's combined volume has increased sharply since mid-last year. And sport, politic and crypto are biggest categories.

[Sim_card]

You should know that everyone out there are after making money and nothing more with the different services that they render. I'm not surprised that exchange like Coinbase have added prediction market to their platform because that's what's trending and having more traffic. I don't know what casinos are waiting for when they should be the ones having prediction market in their platform.

[Franctoshi]

It's no longer news of how the prediction market popularity is growing, with most services now involving them in their service. Recently I just got notification of one of the centralized exchanges I make use of offering a prediction service at some events just like what we have in poly market and Kalshi.

I will understand when I see such options made available in casino as it can be to be their means of still trying to retain their customers, but I don't get it for exchanges what are they competing with.

Among both industries, which do you consider to be more suitable to offer prediction services and which of them can you easily trust to use if you are not to use any of the popular markets?

Those exchanges you talk about offering prediction services aren't the exchange itself; it's their partners that are leveraging the exchange's popularity to offer such services, whereas the exchange itself earns commission for the profits those partners would earn from that service. There's no different between what you do personally by analysing the games, only that they can get first hand information or some informations you as an individual gambler wouldn't have access to, So all of them are just their for their profit interests, else they will keep those secrets themselves and be milking the betting companies.

[Swordsoffreedom]

However, I do not think that having prediction market on exchange make it trustworthy.
We should actually look at provider, settlement rule first. We should also look at source of truth, custody & regulatory system.

You know, interesting thing about Coinbase is that Coinbase itself will not decide outcome. Kalshi will make final resolution according to settlement rule. And this is where my big concern lies. Prediction market is now penetrating gray area of ​​regulation.

Few days ago, I saw in news article that US appeal court ruled in favor of Nevada's gaming oversight regarding Kalshi's sport contract. So, is it prediction market or gambling? this debate is not over yet.

[obuoma]

Among both industries, which do you consider to be more suitable to offer prediction services and which of them can you easily trust to use if you are not to use any of the popular markets?

Prediction market is more or less gambling but for some unknown reasons, there is a deliberate plan to make prediction market different from gambling which is why we are seeing so much investment and interest in that business. If things are done properly, exchanges without gambling license are not supposed to get involved into prediction market that is outright gambling but I think the money involved is what most of them are going for since altcoins are no longer enjoying the hypes and therefore seeing lower capital injection and this makes exchanges not as profitable as before.

[abel1337]

They just ridin the trend. We know that it's not their main line of business but they are hopeful that they can join the party by offering their service with the existing customer they have. The edge they have is their existing customers and I'm sure there are some who are interested or want to try prediction market but just lazy or scared on transferring funds on those prediction market website. I speculate that those are their target market. I doubt that they are targeting those who are already using prediction markets business like kalshi and polymarket.

[Smack That Ace]

Among both industries, which do you consider to be more suitable to offer prediction services and which of them can you easily trust to use if you are not to use any of the popular markets?

If I had to choose between these two then I would say prediction market is more natural product for casino.
But for exchange it is more strategic product.
And I personally would not trust any platform just by looking at brand name.
I would first look at how that market resolve and what my protection is in case of dispute.

[crwth]

Maybe it's just being more diversified, and a lot of people are actually enjoying the very broad application of prediction markets that people are trying to take advantage of. Imagine being able to bet on who the next pope is for the whole Roman Catholic Church. Like, it's crazy, but at the same time innovative, IMO.

I think what's important in a prediction market, and why I would choose a certain prediction market, is the liquidity. I would want to see people actually using it and there is liquidity.

[Dr.Bitcoin_Strange]

The centralized exchange also wants to partake in taking profit from the prediction market which has become a boom, they want to compete for the same customers that the other prediction market are competing for and you know the reason for this initiative is because majority of people that uses centralize exchange also participate in trading on prediction market. I think most people will go for other prediction market instead of using exchange since those exchange will always ask them for KYC verification. Personally, I don't see myself betting on any prediction market because I have not even had all the time I want to spend on sports betting and futures trading talk more of prediction market.

[Charles-Tim]

The centralized exchange also wants to partake in taking profit from the prediction market which has become a boom, they want to compete for the same customers that the other prediction market are competing for and you know the reason for this initiative is because majority of people that uses centralize exchange also participate in trading on prediction market.

The reason the exchanges have prediction markets is because they do not need another regulations for it. The regulators that are regulating exchanges are the ones that are also regulating prediction markets and that makes it easy for the exchanges.

I think most people will go for other prediction market instead of using exchange since those exchange will always ask them for KYC verification.

The second largest prediction market is Kalshi, it is requires KYC.

[Hispo]

It's no longer news of how the prediction market popularity is growing, with most services now involving them in their service. Recently I just got notification of one of the centralized exchanges I make use of offering a prediction service at some events just like what we have in poly market and Kalshi.

I will understand when I see such options made available in casino as it can be to be their means of still trying to retain their customers, but I don't get it for exchanges what are they competing with.

Among both industries, which do you consider to be more suitable to offer prediction services and which of them can you easily trust to use if you are not to use any of the popular markets?

I have also noticed how there are exchanges, specially Binance(.)com, which have decided to run their own predicrion markers, in a similar manner to what Polymarket does it.

I think it is just about diversifying their speculative products, so people can choose to remain on their exchanges, instead of going to Kalshi or Polymarket.
Such strategy is specially easy for Binance, since they would be offering those prediction markets to a global audience, and not one in the United States, where most of lawsuits against production market providers are.

Exchanges have seen this opportunity for them to make money and they are taking it.

[Pandu Geddon]

Among both industries, which do you consider to be more suitable to offer prediction services and which of them can you easily trust to use if you are not to use any of the popular markets?

Prediction markets to me lean more towards gambling, so it would be better for them to be registered in a casino rather than a centralized exchange. What regulations are used to register prediction markets on centralized exchanges? If we see this happening and becoming more popular, it's like how social media was initially used for social activities, and now a marketplace feature has been added to register goods being traded on the platform.

[Bluedrem]

I think this is part of the marketing campaign. Prediction market is very simple. Many times, to attract users, many services organize free prediction campaigns. Where people give Bitcoin predictions and the correct predictors are rewarded by the service group. I have found this to be very effective in terms of marketing because here, in making predictions, some people participate who are not very aware of the service but are new to the service and they often express their willingness to accept the service. ‌ This is also common in our forum where various services give rewards for giving correct Bitcoin predictions.

[suzanne5223]

It's no longer news of how the prediction market popularity is growing, with most services now involving them in their service. Recently I just got notification of one of the centralized exchanges I make use of offering a prediction service at some events just like what we have in poly market and Kalshi.

I will understand when I see such options made available in casino as it can be to be their means of still trying to retain their customers, but I don't get it for exchanges what are they competing with.

Among both industries, which do you consider to be more suitable to offer prediction services and which of them can you easily trust to use if you are not to use any of the popular markets?

I believe we shouldn't be surprised that CEX are now implementing prediction market services, CFDs, forex trading, and more to platform because ever since institutional investors and banks entered the crypto market, crypto trading fees have become too competitive
 If Binance, Coinbase, OKX, Bybit, Kraken, and others don't offer services that will make it hard for their users to leave their platform, they may lose a lot of users to other platforms or institutions that are adopting crypto services now.
The idea of adding a prediction market to their service is to keep their users and also make more money. Can you imagine how much revenue Binance would have had if they had implemented a prediction market at an early stage?
We can say they are competing, but they are following the market trend based on what crypto enthusiasts participated in.

[KiaKia]

I thought I was the only one, I saw prediction option or tab on Bybit and Mexc I think, that was when I wanted to trade then I saw it, I guess it's no longer a platformer thing, anyone can introduce prediction market on their platforms.

Its also how we are seeing stocks crossing into crypto market platforms now, every centralised exchanges now has so many stocks listed in token form that crypto investors can buy.

Everything is now mingling with eachother and to be honest it's disgusting sight to behold, I personally don't like it as it complicates things even more.