Backpack Launches Beta of Unified Prediction Portfolio with Cross-Margin

TLDR

• Backpack has launched a closed-beta version of its Unified Prediction Portfolio with cross-margin capabilities.
• The new product integrates prediction markets with existing trading features such as spot trading and perpetual futures.
• Traders can place predictions, hedge with perpetual contracts, and maintain spot positions within a single margin account.
• The beta is invite-only, with select active traders testing the system to refine its risk engine.
• Backpack aims to create a vertically integrated exchange where capital can be flexibly used across multiple trading products.

Backpack, a crypto trading platform founded by former FTX employees, has launched a closed-beta of its Unified Prediction Portfolio. This new product allows active traders to place bets on crypto and financial markets through a unique cross-margined portfolio system. The private beta, announced on January 13, offers an integrated experience for users to engage with both prediction markets and traditional trading products in a single account.

Unified Prediction Portfolio: A New Approach to Prediction Markets

The Unified Prediction Portfolio integrates prediction markets with Backpack’s existing spot trading, perpetual futures, and lending products. This integration allows users to manage all their positions within one account, a feature not typically available on standalone prediction platforms. Traders can place a prediction bet, hedge it with a perpetual futures contract, and still maintain spot positions, all within a single margin account.

Backpack CEO Armani Ferrante explained that traditional prediction markets suffer from inefficiencies, primarily due to locked-up capital.

With Backpack’s system, users can avoid these limitations, as the cross-collateralization feature lets them deploy capital flexibly across multiple product types simultaneously.

Invitation-Only Beta and Future Plans

The closed-beta is currently invite-only, with select active traders receiving invitations to participate. These traders will test the new system, with Backpack gathering feedback to refine the platform’s risk engine before a broader rollout. Ferrante emphasized that the company is focusing on improving its core features, including the risk engine, to ensure a seamless experience for future users.

As part of its long-term strategy, Backpack plans to expand its offerings and grow the number of markets over time. The company has already experienced substantial growth since acquiring FTX EU in January 2025. This acquisition granted Backpack access to a MiFID II-regulated framework, helping the platform navigate the complex regulatory landscape of the crypto industry. Backpack aims to broaden its regulatory coverage, which will include new products like cards, stocks, and vaults in 2026.

Backpack’s prediction market product represents the company’s next step in creating a vertically integrated platform. It allows traders to use capital once and deploy it flexibly across various products, offering a more efficient way to trade across markets. As of January 14, Backpack’s platform saw impressive trading volume, further demonstrating the growing interest in its diverse offerings.

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