Crypto exchange Gate enters prediction market space with white-label builder for businesses

Prediction market infrastructure firm Gate launched a white-label builder called Event Contracts Builder in August, allowing businesses to integrate forecasting tools into their own applications. Developed as part of Gate DexBuilder, Gate's decentralized-exchange infrastructure platform, the service is available to brokers, Web3 applications, and trading platforms.

Jason Fung, head of Gate DexBuilder, explained that companies can easily incorporate prediction market functionality without investing heavily in the underlying infrastructure. The expansion of Gate's prediction market offerings follows the rise in popularity of these platforms, which gauge public sentiment and enable bettors to wager on various events.

Gate has previously partnered with Polymarket, becoming the first exchange to integrate Polymarket Builder, a tool that enables exchanges and apps to display Polymarket's existing prediction markets. To further support the development of event contract products, Gate has introduced a $3 million grant program, providing funding, technical assistance, marketing support, and media promotion to selected builders.

Fung, who previously worked in media and entertainment, gaming, and the crypto industry, joined Gate in July to further expand the exchange's global presence.