Trust wallet now offers prediction market

[stadus]

They just partnered with these 4.

Check out Polymarket, Predict.fun, and Hyperliquid (HIP-4) directly from Trust Wallet. No account, no KYC, no exchange custody—your keys, your positions, your payout.

https://trustwallet.com/prediction-markets

This is good because you don’t have to leave your Trust Wallet just to place a prediction, and that alone already makes the process feel safer and more convenient.

Most likely, as long as regulators don’t question its legitimacy, more wallets may follow this trend. Prediction markets are becoming more popular, so integrating them directly into wallets could also bring more users and activity to their business.

I don't think giving people the ability to do very addicted things as fast as possible or as easy as possible is a good thing.. for who do you think it is good? These kinds of integrations may look good from a business perspective, but we are hurting people by pushing gambling into every part of your life. This is the same as your bank app advertising gambling directly in there. It should never do that, it should help you have healthy finances and not advertise ways to lose your money.

Why bring gambling addiction into this as if gambling itself is automatically that bad? This kind of convenience is exactly what gamblers like, and development like this will not stop just because some people may become addicted. With or without this feature, gambling addiction already exists.

At the end of the day, gambling is still a matter of personal choice, especially since we are expected to be responsible enough when we decide to gamble. If someone develops a problem, we cannot simply blame the system, the government, or the technology for everything.

[hedgeh0g]

The picture where screenshots from my trust wallet app and if this isn't the right board please help point out the right board for me so I can move it there but I felt it would suit here than the gambling board

Well, they’ve long been stating their intention to add a prediction market to this wallet, and they’ve done it. We can see how clearly the line is beginning to blur between services that were originally wallets or exchanges, and now, following the trend, they’re all including forecasts for all sorts of events. Their actions remind me of a moment in one of the Wall Street movies, where the main character said that the organizers of financial instruments are constantly trying to turn them into gambling - and the same thing has now happened with cryptocurrency services. After all, everyone loves excitement, and services really love collecting fees. And it’s easy to collect fees not only from trading or swaps, but also from predictions - after all, everyone has their own opinion, and sooner or later they start thinking about how to monetize it.

[Inwestour]

Well, they’ve long been stating their intention to add a prediction market to this wallet, and they’ve done it. We can see how clearly the line is beginning to blur between services that were originally wallets or exchanges, and now, following the trend, they’re all including forecasts for all sorts of events. Their actions remind me of a moment in one of the Wall Street movies, where the main character said that the organizers of financial instruments are constantly trying to turn them into gambling - and the same thing has now happened with cryptocurrency services. After all, everyone loves excitement, and services really love collecting fees. And it’s easy to collect fees not only from trading or swaps, but also from predictions - after all, everyone has their own opinion, and sooner or later they start thinking about how to monetize it.

It seems to me that for Trust Wallet, this is just another feature added to their multifunctional wallet. You could already buy, sell, and swap assets there, and I know people who store their assets in it, too. Staking is an option as well. Now they’re adding prediction markets into the mix. Why not, if it generates extra profit for them.

[Mpamaegbu]

It is a fact our phone and our other digital/smarth devices have been built and programmed so they can send as much information about us to those giants of technology, so they can sell our information to advertisers and profits from us. In the end those services they provide to us for free are not actually free, we pay with our personal information. We are basically the product.

Shouldn't that observation worry those who kick against KYC of any sort or using Cexs then? Perhaps we still have those who don't make use of any form of social media on their devices? Yet they're in cryptos? Is that even possible?

I would be okey with trust wallet to give the option for people to participate in those production markets, as long as it is not being pushed on the face of users. In the end, there could be some underaged users of that wallet, who would not be legally considered adults so they should not be risking their money in prediction markets from their phone wallet.

There will always be disclaimer and caveat on every site that takes on risky enterprises. If, however, anyone decides to go ahead despite that caveat, then it behooves the person taking the risk to be responsible for their action notwithstanding their age.

[WhoYouCantKill]

It will actually grow bigger and better the future, it is starting and people are already enjoying it, it will become more popular and everyone will be interested in it, for now some set of people still don't feel comfortable with it but believe me as time goes on they are going to be comfortable with it.
People are not participating just like you but as time goes on don't be surprised that even you will be a participant. The growth is already shocking people but not actually everyone.

Only that it might end up facing more stricter restrictions and regulations in the future. There’s still lots of it now and the more it gains traction, the more the need for more regulations. Again, the issue of insider information is already making waves and several people are already complaining about it, and even though a lot of people are adopting it now, if that issue persists and continues, it might be bad business for the prediction market. 

[Hispo]

Those kinds of wallets have always had ads. I haven't used them in a while now, but with the mobile wallets I've used—and I've used several—I remember seeing various ads, including ones for sportsbooks and casinos. And the most striking example was when I saw an ad for 1xBit.

...

They haven't done it so far, and I hope they don't. It's something that sets them apart from other types of wallets, and I hope it stays that way.

I had mostly seen advertisements of 1xbet which is the parent company/ older brother of the scammy 1xbit. I have seen advertisements of it on Blockchain explorers, on coin directories and even on news pages about Cryptocurrencies. It would be the last straw to me if I happened to see an ad of those scammy services in a wallet which I would have considered to be safe and reliable otherwise.

It is oxymoron to have a service which is supposed to protect us froms scams to advertise scammy services. Don't you think?

When comes to hardware wallets, they allow their users to interact with smart contracts, so realistically one can use them to partake in prediction markets, but that does not mean it would be good for the makers of those HW to advertise it on the dashboard of their product.

[bakasabo]

It will actually grow bigger and better the future, it is starting and people are already enjoying it, it will become more popular and everyone will be interested in it, for now some set of people still don't feel comfortable with it but believe me as time goes on they are going to be comfortable with it.
People are not participating just like you but as time goes on don't be surprised that even you will be a participant. The growth is already shocking people but not actually everyone.

Only that it might end up facing more stricter restrictions and regulations in the future. There’s still lots of it now and the more it gains traction, the more the need for more regulations. Again, the issue of insider information is already making waves and several people are already complaining about it, and even though a lot of people are adopting it now, if that issue persists and continues, it might be bad business for the prediction market. 

Frankly speaking that might turn into a huge problem. Now prediction markets require verification. Installing trust wallet, creating a wallet and funding require zero verification. This is an open door for underaged and people who were banned/restricted to make predictions to use what is not allowed for them. As well as it opens new horizons for result manipulation. I think it is not hard for a tech person to create thousands of new wallets, place predictions and influence on vote %.

[Leahized]

This is the trend and I agree about efficiency and even ease of usage, I saw it from my Phantom wallet sometime ago, but the truth is that wallets with better reputation would likely have more patronage. I don't think I've come across complaints about Phantom wallet being exploited or all that saga experienced in Trust wallet.

If what you say is correct, what should I do now (based on appropriate information). Because I have been using trust wallet for almost 6 years. I have only seen one incident of funds being stolen from trust wallet. However, it was a bug in the extension. But I have never been a victim like that. Is the fantom wallet comparatively more powerful? I am not personally sure. But everyone preferences will never be the same.

However, recently all dex platforms are launching prediction markets. This is a very good improvement, which is suitable for people of all levels. However, I really like this improvement of trust wallet.

[WhoYouCantKill]

Frankly speaking that might turn into a huge problem. Now prediction markets require verification. Installing trust wallet, creating a wallet and funding require zero verification. This is an open door for underaged and people who were banned/restricted to make predictions to use what is not allowed for them. As well as it opens new horizons for result manipulation. I think it is not hard for a tech person to create thousands of new wallets, place predictions and influence on vote %.

Yeah, with the look of things, it’s possible that the technology could actually move way faster than the rules and current regulations that’s designed and kept in place to control it. And I feel you make a good point with the wallet thingy, because if it’s so easy one person to create multiple wallets and there’s actually no clear connection between the wallets and a real person, then it becomes almost impossible to actually know the activity reflects thousands of independent participants or whether it’s just a few persons operating on those multiple accounts.  That alone could puncture the credibility and transparency of the market because questions would eventually start coming in whether or not the odds and percentages are really based on actual demands or merely just those that are attempting to influence the market outcome.

[avp2306]

Only that it might end up facing more stricter restrictions and regulations in the future. There’s still lots of it now and the more it gains traction, the more the need for more regulations. Again, the issue of insider information is already making waves and several people are already complaining about it, and even though a lot of people are adopting it now, if that issue persists and continues, it might be bad business for the prediction market. 

Frankly speaking that might turn into a huge problem. Now prediction markets require verification. Installing trust wallet, creating a wallet and funding require zero verification. This is an open door for underaged and people who were banned/restricted to make predictions to use what is not allowed for them. As well as it opens new horizons for result manipulation. I think it is not hard for a tech person to create thousands of new wallets, place predictions and influence on vote %.

Maybe can cause a problem in future if prediction markets will became more strict and comply with regulations.

If trust wallet will be ordered to comply with verification need to continue to operate their prediction market feature. Maybe they follow and choose to do what's best for their company.

If they try to avoid and will allow those restricted countries or underage people to place their bets in their platform. Then there's high chance that they might face legal issues for sure they don't want to pay huge penalties to the government.

[Strongkored]

Was just trying to explore my trust wallet this morning when it suddenly came to my attention that, trust wallet now offers prediction on not just crypto but several other happenings including sports predictions, political news and so on and it seems they all started it this year which I don't know if it's a good move or not but it seems people are really going into it as the figures I see been stakes runs in millions so I had to bring it to the attention of the community for those who might be interested but not aware and I want to know your take on it.

My advice is not to try it because it will be hard to stop once you’ve started.
Especially if it’s the wallet you usually use to store your coins.
You’ll find it difficult to control because as long as there are still coins in there, you’re very likely to keep trying to play.

I would choose to use a wallet that isn’t connected to things like prediction market and gambling.
A wallet should be a place to store assets, not to spent the assets moreover for gambling.

[leea-1334]

Did not trust Trust Wallet when it came out and I still do not trust it now, but mainly because of the marketing around it and all the influencers. I will always stick to the ones I know with no marketing and no influencers. Adding a prediction market now,,, makes me dislike it even more  

You being skeptical is not a bad thing, but I am surprised you mention that because the wallet is being promoted heavily by influencers. I would still separate the marketing from the actual security of the wallet, it can have such marketing and still have useful features, they can still have a quiet project that still have problems. The interesting part now to me is prediction market added to it, because adding more features can the app more convenient, but that means the users have to trust it so much. It is even better they focus more on security and keeping things simple for the users.

Read my post from yesterday,,, the rational explanation is in there.

In fact throughout all of software, regardless, and even in all digital and electronic development,,, it is shown that the company that spends the majority of funding on development is usually the most stable and secure.

We are not talking about quiet vs loud, we are talking about proportion of budget. We are not talking about useful features, I was talking purely about security,

[Antotena]

Only that it might end up facing more stricter restrictions and regulations in the future. There’s still lots of it now and the more it gains traction, the more the need for more regulations. Again, the issue of insider information is already making waves and several people are already complaining about it, and even though a lot of people are adopting it now, if that issue persists and continues, it might be bad business for the prediction market. 

I have thought about this feature of Trust wallet when I saw an airdrop by one project, it's a prediction market. I don't want to mention the name since it's having regulatory control in some countries. They did gave airdrop to many people from countries that are not restricted and as usual, the airdrop culture makes people comes around and the country that were not allowed were complaining and it got me thinking, if Trust wallet is available everywhere, wouldn't this make the app restricted because of prediction market.

Altcoins are already problem that we don't know how they are going to be, some countries are looking forward to regulation, with this prediction market I hope we don't get hit for apps trying to force a market on people, it's either they pick the traditional swap, wallet and some other service or they comply to some regulations for sure.

[Ashawowo(OS)]

This is the trend and I agree about efficiency and even ease of usage, I saw it from my Phantom wallet sometime ago, but the truth is that wallets with better reputation would likely have more patronage. I don't think I've come across complaints about Phantom wallet being exploited or all that saga experienced in Trust wallet.

If what you say is correct, what should I do now (based on appropriate information). Because I have been using trust wallet for almost 6 years. I have only seen one incident of funds being stolen from trust wallet. However, it was a bug in the extension. But I have never been a victim like that.

Good for you, and I wish you never fall a victim. Trust wallet is criticized more about bad customer support, they're very unhelpful in that regard. I'm not surprised about the review on their customer support on the first page since I've seen them frustrate a friend of mine when she had issues with funds not reflecting in her wallet.

in case you missed it

I just want to share this reddit post though for everyone to know, Do not use Trust Wallet for prediction markets. And we all know that there has been a lot of issues/compliant on Trust Wallet before.

Is the fantom wallet comparatively more powerful? I am not personally sure. But everyone preferences will never be the same.

DYOR, don't rust me, you may find your own conviction or not, it all depends on your choice. Both are closed source and not ideal, I only use what I feel is the lesser of two evils and I don't hold much funds in it.

[sompitonov]

I have thought about this feature of Trust wallet when I saw an airdrop by one project, it's a prediction market. I don't want to mention the name since it's having regulatory control in some countries. They did gave airdrop to many people from countries that are not restricted and as usual, the airdrop culture makes people comes around and the country that were not allowed were complaining and it got me thinking, if Trust wallet is available everywhere, wouldn't this make the app restricted because of prediction market.

Altcoins are already problem that we don't know how they are going to be, some countries are looking forward to regulation, with this prediction market I hope we don't get hit for apps trying to force a market on people, it's either they pick the traditional swap, wallet and some other service or they comply to some regulations for sure.

I’ll go a step further and mention that I know of actual cases where prediction markets within Trust Wallet are unavailable in certain countries. The same thing happened with Polymarket, yet a few months later, it became accessible in specific jurisdictions. The same might happen with Trust Wallet, though there are no guarantees. Nevertheless, if I were a bettor, I’d first stop to consider exactly what advantage I have in these wagers or whether I’m simply doing it for entertainment. Only then would I start betting, fully aware that I’m funding the organizers' profits before trying to make any money myself after all, these markets weren't designed to make every player rich, right?

[Agathamay]

Well it fits the system of the wallet itself.. It’s surprising a lot of people still take that specific wallet serious.
In my country, it’s rare to see anyone into crypto who won’t tell you they use trust wallet as when  you ask them which wallet they using.

Infact, that will be their first answer and if I try to convince them, they argue  ..

Prediction market has been a thing added since months back.

Aside being a part of my local board, I already know the country and truly the first thing people tell you when you ask them about their wallet is trust wallet and they have truly gained so much recognition and acceptance in th country, previously was Patricia app not until the app was compromised but I think if I remembered correctly, the Patricia team were able to repay those funds back then.

Sincerely I haven't been following up with the stories and cases trust wallet have encountered but I see it as a very convenient wallet to use and charge lesser fee for transaction if I'm not wrong and kind you, I'm not advocating for them

[yixichloro2xx]

Was just trying to explore my trust wallet this morning when it suddenly came to my attention that, trust wallet now offers prediction on not just crypto but several other happenings including sports predictions, political news and so on and it seems they all started it this year which I don't know if it's a good move or not but it seems people are really going into it as the figures I see been stakes runs in millions so I had to bring it to the attention of the community for those who might be interested but not aware and I want to know your take on it.

My advice is not to try it because it will be hard to stop once you’ve started.
Especially if it’s the wallet you usually use to store your coins.
You’ll find it difficult to control because as long as there are still coins in there, you’re very likely to keep trying to play.

I would choose to use a wallet that isn’t connected to things like prediction market and gambling.
A wallet should be a place to store assets, not to spent the assets moreover for gambling.

Imagine someone who is saving their Bitcoin in trust wallet now come in contact with this prediction gambling stuff. Someone who doesn't have self control or greedy will use their Bitcoin/crypto to start gambling, some predictions might result to a win the other might lead to losses. The wave of the prediction type of gambling is becoming bigger and more popular. I am very sure that , for trust wallet to start it other ones will copy to attract more user's like centralised exchanges. It's better for me to gamble at normal betting platform than in place where I am saving or investing in. These people are literally looking for ways to eat your up your crypto assets, because they know it is tempting.  This might cause alot of damages to investors or crypto holders who will decide to participate in it .

[Queen uloma]

They just partnered with these 4.

Check out Polymarket, Predict.fun, and Hyperliquid (HIP-4) directly from Trust Wallet. No account, no KYC, no exchange custody—your keys, your positions, your payout.

https://trustwallet.com/prediction-markets

This is good because you don’t have to leave your Trust Wallet just to place a prediction, and that alone already makes the process feel safer and more convenient.

Most likely, as long as regulators don’t question its legitimacy, more wallets may follow this trend. Prediction markets are becoming more popular, so integrating them directly into wallets could also bring more users and activity to their business.

I don't think giving people the ability to do very addicted things as fast as possible or as easy as possible is a good thing.. for who do you think it is good? These kinds of integrations may look good from a business perspective, but we are hurting people by pushing gambling into every part of your life. This is the same as your bank app advertising gambling directly in there. It should never do that, it should help you have healthy finances and not advertise ways to lose your money.

Why bring gambling addiction into this as if gambling itself is automatically that bad? This kind of convenience is exactly what gamblers like, and development like this will not stop just because some people may become addicted. With or without this feature, gambling addiction already exists.

At the end of the day, gambling is still a matter of personal choice, especially since we are expected to be responsible enough when we decide to gamble. If someone develops a problem, we cannot simply blame the system, the government, or the technology for everything.

I totally agree that gambling addiction didn’t just start because of new features. Technology can make gambling become more easier but at the end, personal responsibility is very essential. Gamblers are supposed to know their limits and gamble only with money they can afford to lose. We can’t blame technology or government for every gambling issues.

[Agathamay]

Was just trying to explore my trust wallet this morning when it suddenly came to my attention that, trust wallet now offers prediction on not just crypto but several other happenings including sports predictions, political news and so on and it seems they all started it this year which I don't know if it's a good move or not but it seems people are really going into it as the figures I see been stakes runs in millions so I had to bring it to the attention of the community for those who might be interested but not aware and I want to know your take on it.

My advice is not to try it because it will be hard to stop once you’ve started.
Especially if it’s the wallet you usually use to store your coins.
You’ll find it difficult to control because as long as there are still coins in there, you’re very likely to keep trying to play.

I would choose to use a wallet that isn’t connected to things like prediction market and gambling.
A wallet should be a place to store assets, not to spent the assets moreover for gambling.

Imagine someone who is saving their Bitcoin in trust wallet now come in contact with this prediction gambling stuff. Someone who doesn't have self control or greedy will use their Bitcoin/crypto to start gambling, some predictions might result to a win the other might lead to losses. The wave of the prediction type of gambling is becoming bigger and more popular. I am very sure that , for trust wallet to start it other ones will copy to attract more user's like centralised exchanges. It's better for me to gamble at normal betting platform than in place where I am saving or investing in. These people are literally looking for ways to eat your up your crypto assets, because they know it is tempting.  This might cause alot of damages to investors or crypto holders who will decide to participate in it .

The prediction market is also a typical gambling market and I wouldn't say they're there to eat up your money but I would say is that, we should better say of it and I don't think one needs to necessarily have to put all their money once in the wallet if they truly want to play as they can gradually do and before you know, they're already consumed and I also like the fact that, you indicated self control and greed because that is all it takes to go the other way round.

Mind you, there are people that receive their campaign earnings on a betting platform just like myself but does that mean I will have to gamble away my earning simply because it's been paid to their platform? Self control and discipline is all that's needed

[nelson4lov]

They just partnered with these 4.

Check out Polymarket, Predict.fun, and Hyperliquid (HIP-4) directly from Trust Wallet. No account, no KYC, no exchange custody—your keys, your positions, your payout.

https://trustwallet.com/prediction-markets

This is good because you don’t have to leave your Trust Wallet just to place a prediction, and that alone already makes the process feel safer and more convenient.

Good for them. Hopefully they did the integrations securely. However, I would feel so much better going direct to the source since all it takes is just a simple transfer from wallet to any of the aforementioned prediction market providers.

Most likely, as long as regulators don’t question its legitimacy, more wallets may follow this trend. Prediction markets are becoming more popular, so integrating them directly into wallets could also bring more users and activity to their business.

Like I have always said, the world is moving towards a consensus where degeneracy will be the order of the day so more and more wallets, and platforms all the way to even traditional bank apps once the regulation for prediction markets have been approved.

More to come.