Blockchain.com has launched SnapMarkets, a prediction platform for forecasting Bitcoin prices in 30-second intervals.
Blockchain.com has introduced SnapMarkets, a new platform designed for users to predict Bitcoin prices in 30-second intervals.
With a minimum bet of just $1, users can wager on whether the price of Bitcoin will rise or fall, marking it as a "skill-based prediction market." The platform not only allows trading but also offers a chat feature, real-time price updates, and a competitive leaderboard.
Unlike existing platforms such as Polymarket or Kalshi, SnapMarkets is exclusively focused on Bitcoin, and there are plans to expand the scope of markets available in the future.
This launch comes amid a notable increase in prediction market activity, with trading volume surpassing $29 billion in April, according to Dune Analytics.
Blockchain.com clarifies that SnapMarkets is not classified as binary options, presenting it instead as a straightforward and transparent method for users to engage with Bitcoin's price movements, distinct from traditional derivatives.
However, regulatory concerns exist, particularly in the U.S. and Europe, where authorities have previously imposed restrictions on similar financial products. Consequently, SnapMarkets will not be accessible to users located in the U.S. and the U.K.
The platform integrates seamlessly with Blockchain.com wallets and other DeFi applications, providing new users with a non-custodial wallet upon registration.
Additionally, developers of the Hyperliquid protocol activated a new prediction market feature as part of their recent updates.
