Key Takeaways:

• Backpack has integrated predictions directly into its trading stack.
• The system is built on Backpack, with tokenized positions and unified risk management.
• Users can quote prediction prices, get filled, and hedge exposure using perps within the same account.

Singapore-based crypto exchange Backpack has entered the growing prediction markets sector, launching an invite-only private beta and unveiling what it calls the Unified Prediction Portfolio, a system designed to integrate prediction markets directly into a single, cross-margined trading account.

The announcement was made by Backpack CEO Armani Ferrante, who described the launch as the company’s first significant contribution to prediction markets and a departure from existing standalone platforms.

According to Ferrante, the goal is to address a long-standing inefficiency in prediction markets: locked capital.

“Prediction markets are notoriously inefficient,” Ferrante said. “You lock up your USD in a prediction, and it’s stuck there for the duration of an event. Even if you have an edge, the opportunity cost of capital often makes the trade unattractive.”

A unified, cross-margined approach

Backpack’s Unified Prediction Portfolio allows users to deploy the same capital across spot trading, margin, lending, perpetual futures, and prediction markets, all within a single subaccount.

Positions are cross-margined and cross-collateralized, meaning capital committed to a prediction can still be used elsewhere on the platform without fragmenting balances.

Crucially, the system is Backpack-native, rather than a wrapper around existing prediction market platforms, such as Polymarket or Kalshi. Ferrante said all components are tokenized and risk-profiled together, enabling traders to do things that are difficult or impossible on current prediction markets.

For example, users can quote prices on prediction outcomes, get filled, and immediately hedge exposure using perpetual futures, all within the same margin account. Advanced exchange features such as stop-loss and take-profit orders, conditional orders, TWAP, scaled orders, and trading bots are also supported.

Backpack is initially focusing the private beta on testing core infrastructure, including its risk engine and margin logic. Broader access, additional features, and further prediction markets are expected to be rolled out gradually as feedback is incorporated.

Prediction markets gain momentum

Backpack’s entry comes as prediction markets experience renewed momentum across crypto and traditional finance. Platforms such as Polymarket have gained mainstream attention by offering markets on elections, macroeconomic data, and geopolitical events.

Kalshi, a regulated US-based prediction market, has expanded into political and economic forecasting, while crypto-native ecosystems like Gnosis and emerging DeFi protocols continue to experiment with decentralized prediction mechanisms.

Coinbase is also building a prediction-markets platform, potentially backed by Kalshi, as it expands beyond traditional cryptocurrency trading.

Screenshots shared by tech researcher Jane Manchun Wong reveal a Coinbase-branded interface and integration with Kalshi, signaling the exchange’s push into event-based contracts for economics, sports, politics, technology, and more.

Meanwhile, Crypto.com has planned to launch a prediction market integrated with Truth, a social media platform founded by US President Donald Trump, thereby expanding access to trading on political and social events.

Looking ahead to 2026

Access to Backpack’s prediction market beta is currently invitation-only, with priority given to active traders. Ferrante said invites will roll out over the coming months as the company expands testing.

Beyond prediction markets, Backpack is preparing for a broader expansion in 2026.

Ferrante said the exchange is nearing completion of a multi-year global regulatory roadmap, which would allow Backpack to expand beyond its current reach and onboard users worldwide.

As prediction markets increasingly converge with derivatives, spot trading, and DeFi infrastructure, Backpack’s unified approach signals a shift toward treating predictions not as isolated bets but as fully integrated financial instruments within modern crypto trading platforms.