Gate Enters Prediction Market Space with White-Label Solution
The crypto exchange offers businesses customizable prediction market infrastructure.
1Gate's New Service: Event Contracts Builder
In August 2023, Gate launched Event Contracts Builder for prediction markets. This tool enables brokers, Web3 applications, and trading platforms to integrate prediction market functionality into their own products. As part of Gate DexBuilder infrastructure, the solution helps companies save technical resources required to build such features from scratch. Jason Fung, President of Gate DexBuilder, told Fortune this infrastructure was designed to meet growing industry demand.
2The Rise of Prediction Markets
Prediction markets, where users can bet on virtually any event, are gaining popularity. While players like Kalshi and Polymarket dominate the sector, these platforms have become new tools for measuring public sentiment. Retail businesses have started integrating data and contracts from these markets into their own products. Gate initially entered this ecosystem as a Polymarket partner.
3From Partner to Competitor
Earlier this year, Gate became the first exchange to integrate Polymarket Builder—a tool allowing exchanges and apps to offer Polymarket's prediction markets within their products. However, Gate used insights from this experience to develop its own competing solution. Jason Fung states they now offer more flexible and customizable infrastructure compared to their former partner.
4$3 Million Grant Program
Gate launched a $3 million grant program to support companies developing prediction market products. Fully funded by Gate, the program helps cover development costs. Selected projects may also receive technical assistance, marketing support, and media promotion. The company is currently evaluating the first round of applications.
5Jason Fung's Career Journey
Jason Fung, head of Gate DexBuilder, began his career in media and entertainment. During his time in Canada, he worked at companies like BroadbandTV and Azubu. After moving to China, Fung spent five years at tech giants Alibaba and ByteDance, including work on TikTok Global. Entering crypto during the 2021-22 boom, Fung engaged with short-lived Web3 narratives before transitioning to more established roles at Sei Foundation and AP Finance.
6Gate's Global Presence
Though headquartered in Panama, 13-year-old Gate operates globally with offices in Hong Kong, Japan, Dubai, and Malta. Its North American arm, Gate U.S., supports operations. Fung joined Gate in July 2023 to expand the distributed exchange ecosystem. Despite remote operations, the team maintains a worldwide footprint.
7Competitive Landscape
The prediction market space features strong competitors like Kalshi and Polymarket. However, Gate's white-label solution targets businesses rather than direct consumers. This model—making it easier for companies to add prediction market functionality to existing products—gives Gate a distinct competitive edge, particularly appealing to Web3 and crypto platforms.
8Fintech's New Frontiers
Gate's move highlights how prediction markets are increasingly being adopted in financial services. These markets are now valued not just as speculative tools but as data and insight sources for businesses. Gate's infrastructure solutions and support program contribute to industry growth while expanding the boundaries of fintech innovation.
Original article: Fortune — Gate, Tahmin Piyasalarına Beyaz Etiket Çözümüyle Giriyor