PancakeSwap Joins Growing Prediction Market Push Across Crypto With Probable Launch
Synopsis
PancakeSwap is incubating Probable, a new prediction market set to launch on BNB Chain.
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 2.5% 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.
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.”
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. 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.
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Read also: Bitcoin Retail Traders Split On Timing Of Next All-Time High While Sentiment Turns ‘Extremely Bearish’
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