Backpack Launches Prediction Market

This isn't just another prediction market; it's an integrated system that combines predictions with a full-fledged crypto exchange, allowing users to manage risks, hedge positions, and use advanced orders in a single margin account.

According to the announcement from Backpack CEO Armani Ferrante, the issue with traditional prediction markets is inefficiency: funds are "frozen" during the event period, leading to missed opportunities. Unified Prediction Portfolio solves this through cross-margining and cross-collateralization of assets, including spot, spot-margin, loans, perpetual futures, predictions, crypto, and fiat – all in one sub-account. Users will be able to trade predictions, instantly hedge via perpetuals, and manage their portfolio in a single system, with access to blockchain networks, fiat gateways, and order types like TP/SL, TWAP, or grid bots.

"This isn't a wrapper over Kalshi or Polymarket, but a native Backpack system with tokenization and risk profiling," Ferrante noted in his post on X.

At launch, the beta focuses on core functionality and risk engine testing, with gradual expansion of markets, features, and participant groups. This opens the door to new trades, better liquidity, and even insurance use cases.

Access is limited: invitations are being sent preferentially to active Backpack traders, starting today. To get a chance, you need to register on the exchange and build up activity, for example, through trading. Users recommend "pumping volume" for invites, and some speculators expect drops or rewards for beta participation, similar to previous Backpack seasons.

The launch comes amid the end of Backpack's fourth season and plans for 2026: expanding regulatory coverage (from 48% of the world to global), new products like cards, stocks, vaults, and pre-market perps. Prediction markets are gaining momentum in the crypto space - from Polymarket with billion-dollar volumes to new platforms on BNB and Solana, and Backpack positions itself as a vertically integrated alternative.

Experts see this as a new turn for the sector:

"Quiet builders like Backpack stick around long-term," the community comments.

With growing interest in point farming (like in Opinion or Predict.fun), the beta could become a hit for degens and traders.

Backpack, founded in 2022, has already reached $800M daily volume and $100M deposits in Japan, despite limited coverage. The beta launch is a step toward leadership in DeFi and TradFi fusion.