Gateway to Learning

This report systematically examines the development trends and competitive landscape of prediction markets, with a focus on Polymarket’s ecosystem strategy centered on Builder Codes. It highlights that Polymarket is transforming prediction markets from a single platform into decentralized infrastructure by opening liquidity and developer networks, creating a “Prediction-as-a-Service” system embeddable in any scenario. The report also dissects Polymarket’s four-layer ecosystem structure, revealing that third-party Builders account for less than 3% of total platform trading volume but hold tenfold growth potential.

BTC and ETH continue to trade in a weak, choppy structure, with prices trending lower and rebounds lacking strength. Volatility has spiked multiple times, reflecting fragile sentiment. On the derivatives side, leverage has not returned after a major deleveraging event, with open interest remaining at low levels. The concentrated long liquidations in early November further indicate declining confidence, suggesting that short-term downside risks remain. From a quantitative strategy perspective, the moving-average trend-breakout model has delivered strong performance in assets such as XRP, DOGE, and ADA, though it may still face signal delays and stop-loss whipsaws during strong one-sided trends. In contrast, the Gate Quant Fund employs a market-neutral arbitrage and hedging framework, emphasizing stable returns and risk control, offering investors a lower-volatility and more sustainable long-term allocation option.

On the evening of November 20, Gate Founder and CEO Dr. Han delivered a keynote address at the Gate Europe Exclusive VIP Dinner in Malta, sharing the platform’s global strategic roadmap and insights into industry development. In his speech, Dr. Han reviewed Gate’s evolution since its founding in 2013 and explained how the company has built a worldwide crypto ecosystem guided by its three core principles: transparency, security, and compliance, while offering an in-depth outlook on future growth.