SafeBets Launches "Zero-Risk" Prediction Market, Aiming to Circumvent Regulatory Pressure Faced by Platforms Such as Polymarket

BlockBeats News, August 19th - The new prediction market platform SafeBets is launching a "No-Bet Real Fund" prediction mode, attempting to bypass the global regulatory controversies faced by platforms like Polymarket and Kalshi.

SafeBets CEO J. Tennyson Singer stated that users will not use credit cards or invest real funds but will participate in predictions using 100 virtual tokens given by the platform. Each prediction costs 1 token, and users can receive Unicoin token rewards for correct predictions, while only losing virtual tokens for incorrect ones.

SafeBets believes that its core business value is not user betting but rather the formation of "collective wisdom" signals through gathering data from highly accurate predictors, aiming to provide trading references to affiliated brokerages in the future.

The platform is advised by blockchain pioneers Scott Stornetta and Stuart Haber. SafeBets stated that unlike traditional prediction markets that require user fund staking, its model falls under "market research," thus avoiding similar regulatory risks.

Currently, Polymarket and Kalshi are facing regulatory pressures in the United States and multiple overseas regions, including law enforcement actions by several U.S. states targeting the prediction market's nature and service restrictions in some European countries.

However, SafeBets itself is not without controversy. According to documents submitted by Unicoin to the U.S. Securities and Exchange Commission (SEC), SafeBets is solely owned by Unicoin CEO Alex Konanykhin, and the platform rewards users with Unicoin tokens directly tied to the company.

Previously, the U.S. SEC sued Unicoin and related executives, alleging misleading investors and registration statement issues during token sales. Unicoin has denied the accusations and stated its intention to actively defend against them.

SafeBets expressed its hope to pioneer a new development path in the prediction market under tightening regulatory conditions through the "No-Fund-Risk Prediction + Data Monetization" model.