Polymarket Rival Probable to Launch on BNB Chain

Probable, a new prediction markets platform, is getting ready to launch. It offers a user-friendly, fully on-chain experience for the crypto community. Supported by PancakeSwap and YZi Labs, Probable aims to make prediction markets easier to use, more transparent, and more efficient for people worldwide. 

Probable Launch Comes With a Lot of Benefits

According to a blog post, the platform is launching on the BNB Chain. At launch, Probable will not charge any fees for predictions. This will help remove a major obstacle for users interested in prediction markets. 

It is also worth noting that Probable operates entirely on the blockchain. This means that all predictions, results, and outcomes are clearly recorded. The platform is designed for anyone seeking a straightforward and efficient way to make predictions, whether about cryptocurrency prices, global events, sports results, or local markets that traditional platforms may not cover.

Interestingly, one of Probable’s main features is its ability for users to deposit different tokens. Users can deposit any supported token, and the platform will automatically change it to USDT on the BNB Chain. This process removes the need for manual token swaps or complex cross-chain actions. 

As prediction markets become increasingly popular, the launch of Probable could be a significant step forward. Probable’s upcoming launch shows growing new ideas in decentralized finance (DeFi). 

Demand Surges Across The Sector

The broader prediction market sector has seen rapid growth this year. Weekly volumes touched a record near $4 billion some weeks ago, though some analysts have questioned how these totals are calculated.

Coinbase recently announced its plans to enter prediction markets and tokenized equities. The timing of the report matched another notable move. The exchange has joined the Coalition for Prediction Markets, a newly formed group organized by Kalshi and Crypto.com. The coalition aims to expand industry cooperation and ensure that policymakers make prediction markets open to US users.

Similarly, Crypto.com announced it will roll out its prediction market tied to Trump Media. Gemini also received approval from the Commodity Futures Trading Commission to offer prediction markets in the US, marking a regulatory win.

Rising Institutional Interest in Prediction Markets

Interest in prediction markets has surged in recent months. This is fueled by increasing institutional investment and rising trading volumes. Polymarket and Kalshi have seen valuations climb sharply amid growing demand.

In October, Intercontinental Exchange (ICE) invested $2 billion in Polymarket. Kalshi also secured $1 billion in Series E funding, achieving a valuation of $11 billion. Meanwhile, weekly trading volume across the prediction platform also reached $2.03 billion in mid-October.