YZi Labs Expands into Prediction Markets as Gemini Launches Its Platform

Highlights:

• Binance’s BNB Chain will launch prediction markets with PancakeSwap and YZi Labs.
• Probable will let users trade predictions on crypto, sports, and other events.
• Gemini has launched prediction markets across all 50 U.S. states with fast execution.

Binance’s BNB Chain is expanding into prediction markets. PancakeSwap is joining YZi Labs to support Probable, a new protocol that lets users trade event-based predictions. The partnership will help Probable design products, manage risks, and launch markets. It also gives access to BNB Chain’s large DeFi user base, existing liquidity, and marketing channels. Users can predict the macroeconomic trends, milestones in the crypto space, sports events, and governance-related outcomes on BNB Chain platforms.

Probable is entering the prediction market at a time of rising competition. Platforms like Polymarket, Kalshi, and Opinion Labs are already active on BNB Chain. Probable’s launch comes as trading activity is reaching high levels.

Prediction markets are not new, but early projects often struggled due to regulations and were sometimes seen as gambling. Only after Kalshi and Polymarket received approval did new platforms start gaining traction, showing potential for wider adoption. Older prediction tokens still underperform, with a total market value of just $2.9 billion. Probable aims to attract new traders and set itself apart from earlier platforms that failed to succeed.

The project is one of several prediction markets supported by YZi Labs. YZi Labs is a venture firm started by Binance co-founder Changpeng “CZ” Zhao. One of its projects, Opinion, was the top trading platform in November.

Gemini Launches Prediction Markets Across the U.S.

The latest development comes as Gemini, led by billionaires Tyler and Cameron Winklevoss, launches Gemini Predictions across all 50 U.S. states. The company announced the launch on X on Monday, highlighting “near-instant execution” and full transparency for users. The launch comes after Gemini Titan received a designated contract market license from the Commodity Futures Trading Commission, allowing Gemini to operate prediction markets legally in the U.S. 

Gemini Predictions lets users trade on outcomes of real-world events. The move reflects a broader industry trend toward all-in-one crypto platforms. These platforms allow users to trade cryptocurrencies, stake assets, earn rewards, buy tokenized stocks, and now participate in prediction markets. Rival exchanges like Coinbase are also expanding their offerings, increasing competition among platforms that combine trading, DeFi, and prediction markets in one interface.

Major Providers Resume U.S. Operations

The push to launch prediction markets in the U.S. comes after years of regulatory uncertainty. Major prediction markets, including Polymarket, are now resuming local operations after previously facing a ban in 2022.

Polymarket began its U.S. relaunch in early December, giving waitlisted users the first access to its app. In another sign of easing regulations, providers like Kalshi, Robinhood, and Crypto.com recently received a temporary reprieve. This followed a judge’s intervention after cease-and-desist orders were issued by the state of Connecticut earlier in December.