Cryptocurrency exchange BitMart US has expanded from digital assets to fully compliant prediction markets.
Key Takeaways
- The digital assets exchange is now offering sports prediction markets, including moneylines and spreads.
- BitMart US is a fully compliant company.
- A partnership with technology provider Plaee gives BitMart a prediction market interface.
The company recently announced it is offering 405 event outcome markets that include sports, economics, and digital asset trading to 48 states through infrastructure provider Plaee. BitMart US' event contracts available through its platform are offered under a CFTC-regulated framework.
“This launch marks a significant step forward for BitMart US, enabling its U.S. customers to trade on the outcome of real-world events across finance, economics, sports, and more - including short-term price movements on digital assets,” the company stated in a release. “BitMart US is leveraging its established trading platform, deep liquidity, and large user base to deliver a seamless prediction market experience.”
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Getting into sports
BitMart US says it plans to evolve its market offerings, which currently include moneylines and point spreads for sports contracts, to all states except New York and Arizona. However, the company said some markets might not be available in certain jurisdictions.
BitMart US is focused on regulatory compliance, a comprehensive menu of trading markets, and a proprietary interface designed for prediction market sites.
"At BitMart US, our mission has always been to make trading more accessible - lowering the barriers that have historically kept everyday investors on the sidelines," BitMart US COO Daniel Huang said. "This launch opens the door to a new category of products that our users are genuinely excited about, particularly the ability to trade on short-term crypto price movements - one of the fastest-growing segments in digital assets today."
Technology integration
Plaee CEO Leon Okun said his company's technology will integrate with BitMart US' existing platform to give traders access to a "regulated, safe, and engaging" prediction market experience.
The offering combines BitMart US' distribution strength with a turnkey technology stack that includes a purpose-built trading interface and access to CFTC-regulated event contracts in highly liquid markets.
Major competition
BitMart US and its established digital-asset trading business join a competitive and growing field that includes powerhouses Kalshi and Polymarket, as well as Crypto.com and Coinbase.
Sportsbook companies FanDuel, DraftKings, Fanatics, and others have also entered the space. Some operators have faced legal battles with states that offer regulated sports betting, and the CFTC has supported trading exchanges.
BitMart US has attracted cryptocurrency users through its zero-fee trading and free withdrawals, bringing a different type of platform to the prediction market industry.
