Overview
- Backpack began a private, invite-only beta on Jan. 13–14 for a system that merges prediction markets with its existing exchange products.
- Traders can place event bets, hedge with perpetuals, and maintain spot positions from one margin account without locking capital per wager.
- The initial cohort of select active users will provide feedback to tune the platform’s risk engine before any wider release, with no public timeline disclosed.
- Backpack, founded by former FTX staff, acquired FTX EU in Jan. 2025 and later rebranded it as Backpack EU to operate under a MiFID II framework.
- The rollout comes as prediction platforms gain mainstream ties and face closer scrutiny, including Coinbase’s partnership with Kalshi and Ukraine’s blocking of Polymarket as gambling.