Crypto Exchange Bitmex Launches Prediction Markets

Summary

• BitMEX has introduced Prediction Markets on its trading platform, allowing users to speculate on real-world events spanning various topics and industries.
• The initial contracts cover predictions related to FTX bankruptcy claims, SEC approval of a Bitcoin ETF, and the legal fate of Sam Bankman-Fried, providing traders with diverse trading opportunities.

Crypto exchange BitMEX has just added a new dimension to its trading platform with the launch of Prediction Markets. This innovative addition allows BitMEX users to speculate on real-world events, covering a wide spectrum of topics and industries. From predicting the recovery rates of distressed crypto projects to forecasting the fate of influential figures like Sam Bankman-Fried, BitMEX's Prediction Markets offer a fresh set of trading opportunities.

First Batch of Contracts Live

The first batch of contracts offers predictions on critical matters like FTX bankruptcy claims, the potential approval of a Bitcoin ETF by the SEC, and the legal fate of Sam Bankman-Fried. These contracts introduce a unique gateway for traders to earn returns by predicting outcomes across diverse fields, including cryptocurrencies and traditional finance, while also serving as a hedge against future uncertainties.

As of September 13, BitMEX users can explore three Prediction Markets contracts, each with its own settlement and expiry terms. These contracts are carefully vetted by the BitMEX team to ensure clarity in defining outcomes. Settlements will be in USDT, adhering to BitMEX's commitment to providing reliable settlement prices.

With Prediction Markets, BitMEX continues to push the boundaries of crypto trading, offering users a lower-risk market for bounded outcomes and the opportunity to profit from their foresight.