More than 30,000 traders took part in a simulated prediction market tournament hosted by proprietary trading firm Tradeify in one of the first examples of a prop firm using prediction-market mechanics.
Powered by Plaee’s SimTrader platform, the tournament recreated prediction-market trading in a simulated environment rather than offering real-money event contracts.
Leon Okun, Plaee, CEO, Source: LinkedIn
“This launch is yet another example of the rapid rise in demand for prediction market trading among traders in every segment of the industry. Plaee is proud to be leading the rapid roll-out of prediction markets in more trading venues,” said Leon Okun, Founder & CEO of Plaee.
Participants competed using virtual capital linked to World Cup outcomes instead of risking real funds.
Simulated Prediction Markets Enter Prop Trading
Tradeify’s free-to-enter tournament ran from 28 June to 19 July, giving participants a virtual balance of $2,000 to trade simulated contracts linked to World Football knockout matches, prop events and team progression.
Traders competed on a global leaderboard for a guaranteed $250,000 prize pool, including funded trading accounts and a $100,000 top prize.
The competition did not involve real-money event contracts. Instead, it recreated prediction-market trading within a simulated environment, allowing participants to express market views without risking capital.
Tradeify used prediction market mechanics as a trader competition rather than a regulated financial product. The company said the format was designed to give participants a new way to test their market-reading skills.
Vinan Mistry, Tradeify Co-Founder and COO. Source: LinkedIn
Turnkey Technology Lowers Deployment Barriers
Plaee is positioning itself as an infrastructure provider rather than a consumer-facing prediction market. Earlier this year, the company supplied technology for Crypto.com’s CFTC-compliant prediction markets in the US.
The Tradeify tournament represents a different use case, adapting the same underlying technology for simulated trading competitions.
“Adding simulated prediction markets gives our community a fresh, engaging way to test their market-reading skills,” said Tradeify Co-Founder and COO Vinan Mistry, adding that Plaee’s technology enabled the company to deploy the competition at scale.
The two deployments show how the same infrastructure can support both regulated event markets and simulated trading environments, lowering the barriers for brokers and proprietary trading firms looking to experiment with prediction market formats.
