A new prediction market platform named Probable is set to debut on the BNB Chain. This initiative is co-developed by PancakeSwap and YZi Labs, who made the announcement via social media today.

A Frictionless Forecast Platform

According to the announcement, Probable aims to carve out its niche in the prediction market space by prioritizing simplicity and cost-effectiveness, operating without prediction fees from day one.

“Probable delivers true zero-fee predictions,” the team stated in a Medium post. “No platform fees, no hidden charges.”

The platform will allow betting on cryptocurrency price trends, significant global events, sports, and local happenings, with all activities being fully settled on-chain for transparency.

To participate, users can deposit various assets, which are then converted to USDT for making forecasts.

“We believe prediction markets should be simple, transparent, and open to everyone,” said the team on X. “Probable is built to make on-chain predictions faster, easier, and more accessible.”

The new service will rely on UMA’s Optimistic Oracle to confirm real-world outcomes, ensuring tamper-proof results. The involvement of PancakeSwap enhances visibility and trustworthiness, connecting the service with its vast user base.

Changpeng “CZ” Zhao, the founder of BNB Chain, acknowledged the launch and commented on the increasing number of prediction markets on the network.

The Intensifying Race to Predict the Future

Probable joins a growing field that is garnering considerable interest and investment. The sector has witnessed significant advancements recently, indicating rising mainstream and institutional demand. Earlier this year, Kalshi, a prominent platform, secured $185 million in funding, elevating its valuation to $2 billion.

In a recent announcement, ICE, the owner of the New York Stock Exchange, revealed its plans to invest as much as $2 billion in the decentralized platform Polymarket, further embedding itself in the event-driven data market.

Additionally, Trump Media and Crypto.com have plans to introduce prediction markets to a wider audience, showing the expanding allure of this concept. During this, Kris Marszalek, CEO of Crypto.com, predicted that prediction markets could emerge as a multi-deca-billion dollar industry.