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Drift Protocol Launches BET Prediction Market on Solana with US Elections Focus

Aug 19, 2024, 02:52 PM

Drift Protocol has launched a new prediction market called BET on the Solana blockchain. This platform allows users to wager on future outcomes, including US elections, sports, crypto, and cultural events, using over 30 crypto assets as collateral. BET is designed to be capital-efficient, leveraging Drift’s borrow/lend platform to offer automatic yield generation on trades. This launch marks a significant step in the evolution of prediction markets, providing increased liquidity and a unified platform for trading. The introduction of BET is seen as Drift Protocol's response to Polymarket, another prediction market platform.