CZ’s YZi ramps up prediction market bet as Opinion claims 40% share
YZi Labs, founded by CZ, is increasing its investment in prediction markets, notably backing Opinion, which recently captured 40% of the market share.Summary
YZi Labs, the venture capital firm established by Binance co-founder Changpeng “CZ” Zhao, is intensifying its focus on prediction markets, highlighted by the success of its portfolio company, Opinion. CZ recently promoted Predict.fun, another YZi-backed platform launching on the BNB Chain, noting that user funds generate yield while predictions are made.
Opinion, a decentralized prediction market platform backed by YZi Labs (which previously invested $5 million in seed funding), recently experienced an extraordinary surge. Just four weeks after launching exclusively on the BNB Chain in October, Opinion's weekly trading volume reached nearly $1.5 billion, surpassing established players like Kalshi ($1.2 billion) and Polymarket ($1 billion). This volume gave Opinion approximately 40% of the total $3.7 billion market, setting a new record.
However, some market observers, like TEN Protocol co-founder Cais Manai, view Opinion's rapid growth as "extreme" and potentially "engineered activity" rather than purely organic growth. This surge occurs as the broader prediction market sector hits a cumulative trading volume record of over $13 billion in November, with major players like Fanatics and Coinbase entering the space. Despite CZ's Trust Wallet launching a 'Predictions' section, Binance itself has not yet announced plans for a dedicated prediction market.
(Source：Cointelegraph)