Share this article
BitMEX's Prediction Market Is Now Live
Current prediction market contracts revolve around FTX bankruptcy claim recoveries, the future of bitcoin ETFs, and Sam Bankman-Fried’s jail sentence.
Updated Sep 13, 2023, 8:30 a.m. Published Sep 13, 2023, 5:42 a.m.
Make us preferred on Google
Crypto derivatives exchange BitMEX has started a prediction market, which allows traders to bet on the outcome of real-world events.
Prediction markets have been around for quite some time but have seen a surge in popularity thanks to Polymarket.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Polymarket, which was fined $1.4 million in January 2022 for unregistered swaps, offers bettors a plethora of contracts from the serious, such as the victor in the first Republican primary debate, to the absurd, like former President Obama’s sexuality, the chance of Russia using a nuclear weapon before the end of 2023, or the existence of aliens.
BitMEX’s prediction market, which its calling its newest derivative product, is going for the former rather than the latter, launching with offerings of prediction contracts on the percentage recovery rate of FTX’s bankruptcy claims, the chance of an approval of a Bitcoin Exchange Traded Fund on or before October 17, and the chances of Sam Bankman-Fried ending up in jail.
“We want our traders to ride the waves of the ever-changing world, hence introducing Prediction Markets at BitMEX,” Stephan Lutz, BitMEX’s CEO said in a release. “This product adds the mojo to crypto derivatives trading, allowing traders to diversify their portfolios and earn returns by predicting outcomes of real-world news.”
Lutz said that more contracts will be added soon.
“In a bear market with low volatility, prediction markets are a great tool to level up your trading game,” he continued.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
As bitcoin miners cut unprofitable production, Hash Ribbon metric points to BTC price rebound
The hashrate shock from extreme weather in the U.S. revives a historically bullish onchain indicator.
What to know:
- A 20% drop in Bitcoin hashrate has pushed the Hash Ribbon deeper into capitulation.
- In the past, including the FTX collapse and mid-2024 yen carry trade unwind, that's signaled a strong price recovery once the hashrate reverts.
Top Stories
