PancakeSwap Joins Growing Prediction Market Push Across Crypto With Probable Launch

• Pancake Swamp said Probable will debut without fees and auto-convert deposits into Tether.
• The announcement comes during a period of rapid growth for prediction markets.
• The sector has drawn increased attention from both crypto-native platforms and traditional trading firms. 

PancakeSwap (CAKE) said Tuesday that Probable is preparing to launch on BNB Chain (BNB), adding to a fast-growing field of on-chain event-trading products.

The new prediction-market platform was incubated by the decentralized exchange and is backed by Binance founder Changpeng ‘CZ’ Zhao’s family office, YZi Labs.

CAKE’s price fell more than 7.5% in the last 24 hours to $2.02 on Tuesday morning amid broader weakness in the crypto market. On Stocktwits, retail sentiment around the token dropped to ‘bearish’ from ‘neutral’ over the past day, accompanied by ‘normal’ levels of chatter.

Prediction Markets Gain Momentum Across Crypto

The announcement comes during a period of rapid growth for prediction markets, which have drawn increased attention from both crypto-native platforms and traditional trading firms. According to DefiLlama data, ‘prediction markets’ is currently the top trend in crypto markets with a market cap of $3.16 billion and 68 coins within the category.

CZ also noted that that there are now “multiple” prediction markets on the BNB chain. Earlier this month, the network launched Predict, a yield-generating prediction market. Other products include Better Fan and Oriole Insights.

BNB’s price fell more than 2.6% in the last 24 hours, trading at around $862 on Tuesday morning. On Stocktwits, retail sentiment around the altcoin trended in ‘bearish’ territory, while chatter fell to ‘low’ from ‘normal’ levels over the past day.

Crypto Exchanges Launch Predictions Markets Too

Kalshi and Polymarket recorded billions of dollars in monthly trading volume beginning in October, underscoring rising demand for event-based markets tied to politics, economics, and global events.

The space has also seen intensified competition among major exchanges. Gemini (GEMI), led by the Winklevoss twins, said Monday that it has rolled out ‘Gemini Predictions’ across all 50 U.S. states. The firm said it will waive fees on event trades for a limited time. Coinbase (COIN) is expected to announce its own prediction-market offering and tokenized equities next week, according to a Bloomberg report. 

Probable To Launch Fee-Free On BNB Chain

Probable is set to launch exclusively on BNB Chain and will initially operate without charging platform fees, according to a blog post from PancakeSwap. The platform will automatically convert deposited tokens into Tether (USDT) on BNB Chain, removing the need for users to manually swap or bridge assets before placing trades.

For market resolution and settlement, Probable will rely on UMA’s Optimistic Oracle, a system designed to verify real-world outcomes through decentralized dispute mechanisms. While PancakeSwap is supporting Probable’s early development, the exchange said the prediction market will operate as an independent project. No specific launch date was disclosed, with the firm saying only that the release is “coming soon.”

Read also: Bitcoin Retail Traders Split On Timing Of Next All-Time High While Sentiment Turns ‘Extremely Bearish’

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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