YZi Labs — co-founded by Binance’s former CEO Changpeng “CZ” Zhao — is rapidly expanding its footprint in the booming prediction-market industry. The company’s renewed focus comes on the heels of a major surge in trading activity across its portfolio platforms, signaling growing momentum in this fast-evolving sector.
CZ recently announced the launch of Predict.fun on the BNB Chain, describing it as a platform where user funds used for forecasts can also generate yield. This move underscores YZi Labs’ broader strategy to cement a stronger presence in decentralized prediction markets.
At the same time, Opinion, another YZi-backed platform founded in 2023, has quickly become a standout performer. The company, which recently secured $5 million in seed funding and opened a closed beta for 2024, has already surpassed the trading volumes of well-known competitors such as Polymarket and Kalshi. Within just weeks of launching, Opinion’s weekly trading volume skyrocketed to nearly $1.5 billion, giving it around 40% of the total market share. Analysts note that such growth is unusual without substantial industry support, raising questions about the scale of backing behind the project.
Prediction Markets Attract New Industry Giants
The broader prediction-market sector is currently experiencing unprecedented growth, attracting major players and new entrants. Companies like Fanatics Markets and Coinbase have stepped into the space in recent months, signaling rising confidence in the industry’s long-term potential. Meanwhile, Binance has remained quiet about its own prediction-market ambitions, even as CZ’s involvement in YZi Labs fuels speculation about what could come next.
Overall, YZi Labs’ rapid progress highlights how competitive and fast-moving prediction platforms have become. With trading volumes climbing and new platforms launching, the industry is gearing up for significant innovation — and potentially fierce competition — in the months ahead.
