CZ’s YZi backs Opinion, taking 40% of weekly market volume
YZi Labs, the venture firm founded by Binance co-founder Changpeng “CZ” Zhao, is increasing its exposure to prediction markets after one of its portfolio platforms reported a notable surge in trading activity. CZ announced on X that YZi-backed Predict.fun has launched on BNB Chain, noting that user funds earn yield while positions are open and adding, “This tweet is not endorsement.” The update follows a rapid rise in volumes at Opinion, another YZi-backed prediction market that recently outpaced established platforms Kalshi and Polymarket.
What is Opinion and what is driving activity?
Opinion is a decentralized prediction market developed by Opinion Labs, a Hong Kong-based company founded in 2023 by Forrest Liu, according to Tracxn.com. Opinion Labs announced its first O.LAB Prediction Closed Beta Tradathon in 2024 and said it was supported by YZi Labs, which was then known as Binance Labs. In March 2025, Opinion Labs raised $5 million in seed funding led by YZi, with participation from Echo, Animoca Ventures, Manifold Trading and Amber Group.
The platform launched exclusively on BNB Chain in October. CZ later confirmed that YZi holds a minority position in Opinion, stating in a now-deleted X post, “We are just a minority investor, but we try to help with adding strategic value.”
Opinion’s reported volume sets records within weeks of launch
Opinion remained relatively low profile until a recent spike in activity pushed it ahead of competitors including Kalshi and Polymarket. Four weeks after launch, Opinion’s weekly trading volume reached nearly $1.5 billion, compared with $1.2 billion on Kalshi and about $1 billion on Polymarket, according to data from Dunedata on Dune Analytics.
At $1.5 billion in weekly volume, Opinion accounted for 40% of the $3.7 billion market, surpassing previous records for prediction markets, including Polymarket’s peak during the November 2024 U.S. presidential elections.
Some market participants described the pace of growth as unusual. “Opinion’s volume jump is extreme by any normal prediction market standard,” TEN Protocol co-founder Cais Manai said. “Platforms do not go from modest activity to chart-topping numbers overnight without serious fuel behind the scenes. The growth is too fast and too clean to be purely organic,” he added. “When you zoom in, the pattern looks more like engineered activity than a sudden mass onboarding […] A lot of the volume across prediction markets right now is inflated. Everyone sees it, even if nobody wants to say it outright.”
Prediction markets reach $13 billion as Binance maintains distance
Prediction markets recorded a new high in November despite broader crypto market weakness. Dunedata reported cumulative trading volume surpassed $13 billion during the month. On Wednesday, sports merchandise company Fanatics launched Fanatics Markets, providing access to prediction markets in 24 U.S. states, including California, Texas, Florida and Washington.
Major crypto firms have also moved into the sector. U.S. exchange Coinbase introduced a prediction market site backed by Kalshi in mid-November. In October, MetaMask partnered with Polymarket to allow users to trade prediction markets directly through its self-custodial wallet.
Binance has not announced its own prediction market initiative. However, CZ-owned Trust Wallet this week launched Predictions, a section designed to aggregate multiple markets, beginning with Myriad and with plans to integrate Kalshi and Polymarket.
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