Trust Wallet Unveils New Prediction Markets

Trust Wallet, the self-custodial cryptocurrency wallet associated with Binance co-founder Changpeng “CZ” Zhao, has made its entry into the prediction markets. The wallet’s new feature, Predictions, allows users to engage in trading and earning based on real-world events with complete self-custody, as announced by the company on Tuesday.

Key Features of Predictions

Users can view various events, place bets on outcomes (yes or no), and follow developments over time, all within their existing Trust Wallet. Starting Tuesday, the Predictions feature will aggregate markets from diverse platforms, enabling trades on an array of topics encompassing crypto, politics, sports, entertainment, and global happenings.

Integration with Major Platforms

The launch of Trust Wallet’s prediction markets includes an integration with Myriad. The service is expected to extend to established platforms like Kalshi and Polymarket soon. “Predictions is live today in Trust Wallet powered by Myriad,” stated Trust Wallet CEO Eowyn Chen, with Kalshi and Polymarket preparations in progress.

Weekly trading volumes on prediction markets. Source: Dune

Market Dynamics

Myriad, which debuted in March, recently reached $100 million in cumulative trading volume as of late November. By comparison, key players like Kalshi, Opinion, and Polymarket manage around $1 billion each in daily volumes according to data from Dune Analytics.

Unified Trading Experience

This move by Trust Wallet follows its collaboration with Ondo Finance launched in September to provide tokenized stocks. This signifies a trend towards consolidating diverse trading tools within a single platform.

In October, the prominent crypto wallet MetaMask partnered with Polymarket to facilitate prediction trading right from their wallets. Eowyn Chen emphasized, “People shouldn’t need five apps to express what they think will happen next,” indicating the goal to simplify access to evolving market opportunities.

“Users shouldn’t need five apps to express a market opinion. It should happen in the same place they already hold and trade,” noted Chen, also highlighting that certain trading restrictions would apply on prediction platforms.