Prediction Markets News: Polymarket Overhauls Platform, Binance Expands Into Predictions, as Regulatory Fight Drags On
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Competition among prediction market platforms intensified this week even as U.S. legal battles kept heating up. Polymarket unveiled plans to rebuild core parts of its platform, while Binance, the world's largest crypto exchange by trading volume, pushed into prediction markets through Binance Wallet. Meanwhile, federal and state authorities kept sparring over who gets to regulate the sector, with courts landing on different sides in ongoing cases. Polymarket unveiled a planned overhaul this week. Source: CoinMarketCap The plan includes replacing its in-app stablecoin with a new collateral token, Polymarket USD, backed 1:1 by USDC, while also introducing a rebuilt trading engine and updated smart contracts. The upgrade comes as Polymarket pushes deeper into an increasingly crowded market. Polymarket's overhaul also appears aimed at addressing scrutiny over how it resolves disputed event outcomes. The platform has historically relied on an outside mechanism to settle contested markets, but recent controversies around politically sensitive contracts have put that arrangement under fresh pressure. Binance has integrated prediction markets into its wallet app. Source: X/Binance Wallet Incumbent platforms such as Polymarket and Kalshi are now facing competition from a major new entrant. The feature launched as a gas-free product on BNB Smart Chain, with Binance covering trading...
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