Gate Releases Event Contracts Builder for Streamlined Prediction Market Deployment
Panama-headquartered cryptocurrency exchange Gate introduced its Event Contracts Builder in August, a white-label solution designed to help brokers, Web3 applications, and trading platforms rapidly implement prediction market capabilities. According to Jason Fung, head of Gate DexBuilder, this new offering lowers technical and infrastructure barriers, enabling enterprises to develop and launch prediction market modules with greater speed and efficiency.
Capitalizing on Growing Interest in Prediction Markets
Prediction markets have gained recognition as tools for gauging market sentiment, with platforms like Kalshi and Polymarket leading the sector by allowing users to place bets on a broad range of events. Gate initially integrated Polymarket’s Builder tool internally, leveraging their established market services within its own products. Fung explained that this collaboration inspired Gate to develop its own Event Contracts Builder independently, positioning the exchange as an emerging competitor targeting a wider network of partners and enterprise clients in this niche.
$3 Million Grant Program to Fuel Ecosystem Growth
In conjunction with the product launch, Gate announced a $3 million funding initiative aimed at supporting third-party developers building applications around event contracts. Fung noted that the funding, entirely sourced from Gate, will cover portions of development costs and provide selected teams with technical support, marketing assistance, and media exposure. The program is currently in its early selection phase and is expected to accelerate adoption of prediction market tools across various use cases.
Leadership with Diverse Industry Experience
Jason Fung’s background spans media and gaming sectors, including roles at Canada's BroadbandTV and Azubu esports platform. After relocating to China, he contributed to digital efforts at Alibaba and ByteDance, supporting TikTok's global expansion. During the volatile crypto period of 2021-2022, Fung transitioned into blockchain projects, initially engaging with Web3 initiatives before moving to more established entities such as the Sei Foundation and Bybit’s US division. Joining Gate in July, he now leads efforts to expand prediction market operations across Gate’s global hubs in Hong Kong, Japan, Dubai, and Malta.
Gate’s launch of the Event Contracts Builder and the associated funding program underscores the rising importance of prediction markets within the digital finance ecosystem. It also highlights how cryptocurrency exchanges are innovating with new product offerings and partnerships to meet increasingly diverse client demands. Industry attention will focus on how these tools perform across different business environments and the influence of evolving regulatory frameworks on their market penetration.