BitMEX Introduces Prediction Market
Crypto exchange BitMEX has launched a prediction market, allowing traders to profit by anticipating the outcomes of real-world events via trading.
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However, unlike traditional futures contracts, this platform doesn't offer leverage. The taker fee is set at 0.25%, and payouts are bounded between $0 and $100, and quoted in percentage terms.
One of the pioneering contracts on this market pertains to speculating on FTX's bankruptcy claims recovery rate. Traders can engage with this contract until December 25, 2026, unless a decision about the compensation is determined sooner.
By acquiring such a contract at $20, which equates to 20 cents for every compensation dollar, traders can potentially gain either immediately as the contract price appreciates, or once an official compensation verdict surpasses the predicted amount.
Otherwise, traders will need to acknowledge a loss.
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