Bitcoin exchange founder Changpeng Zhao is expanding his presence in the prediction market sector with two major announcements this week. Trust Wallet, which he owns, added prediction trading features for its 220 million users on Dec. 2, while he promoted a new prediction platform on BNB Chain the following day. The moves come as prediction market volumes hit $7.4 billion in October, signaling broader institutional interest in decentralized forecasting.
What Happened: Platform Launches
Zhao posted about the new prediction market on Dec. 4, highlighting a feature that generates yield on user funds while they await outcomes. The platform is backed by YZiLabs, formerly Binance Labs, which manages over $10 billion in assets and has invested in more than 300 projects globally.
Zhao included a disclaimer that the founder was a former Binance employee and that his post was not an official endorsement, though the platform's homepage features his image alongside public figures like Donald Trump.
Trust Wallet's Predictions feature launched with Myriad Markets as the first integration partner, allowing users to bet on politics, sports and market trends. The wallet now competes directly with MetaMask by offering prediction trading through BNB Chain's low-fee infrastructure. Users can trade using BNB or stablecoins like USDC without bridges or manual cross-chain transfers.
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Why It Matters: Market Consolidation
The developments build on BNB Chain's October integration with Polymarket, which saw over $2 billion in volume that month. Opinion Labs, the network's prediction market provider backed by YZi Labs, launched its mainnet on Oct. 23 after raising $5 million in seed funding from investors including Animoca Ventures, Amber Group and Manifold. Prediction platforms Polymarket and Kalshi now carry valuations of $12 billion to $15 billion and $5 billion respectively amid growing institutional interest.
Trust Wallet CEO Eowyn Chen said wallets are becoming "the home for all kinds of trading — not just tokens, but also information, opinions, and expectations."
YZiLabs announced a $1 billion fund dedicated to the BNB ecosystem in October, focusing on DeFi, real-world asset tokenization and payments. The fund has already supported over 65 projects.
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