FTX Alumni’s Backpack Exchange Unveils Revolutionary Cross-Margin Prediction Portfolio in Closed Beta

In a significant development for cryptocurrency trading infrastructure, Backpack Exchange—founded by former FTX professionals—has launched a closed-beta version of its Unified Prediction Portfolio. This innovative product represents a major leap forward in trading platform design by seamlessly integrating prediction markets with traditional spot trading and perpetual futures contracts. The system operates within a single cross-margined account, allowing traders to hedge existing positions while simultaneously placing speculative market bets through prediction markets. This unified approach addresses a longstanding fragmentation problem in crypto trading where different product types typically require separate accounts, capital allocations, and risk management systems. The cross-margin functionality enables capital efficiency by allowing collateral to be shared across all positions, potentially reducing margin requirements and optimizing capital utilization. Currently in an invite-only testing phase, the beta is being evaluated by select active traders who are helping refine the platform's sophisticated risk engine—a critical component for managing the complex interactions between prediction markets and leveraged derivatives. This development comes as the cryptocurrency industry continues to evolve beyond basic trading interfaces toward more sophisticated, integrated financial ecosystems. Backpack's approach of combining speculative prediction markets with traditional trading instruments could potentially create new arbitrage opportunities, enhanced hedging strategies, and more nuanced market exposure management. The FTX lineage of the founding team adds particular significance to this launch, as these professionals bring direct experience from one of cryptocurrency's most sophisticated (though ultimately failed) trading platforms, suggesting they may be incorporating lessons learned about risk management and platform architecture. As of early 2026, this development signals continued innovation in cryptocurrency exchange infrastructure, with platforms increasingly offering unified experiences that bridge different financial product categories while maintaining robust risk controls.

Backpack Launches Beta of Unified Prediction Portfolio with Cross-Margin

Backpack, a crypto trading platform founded by former FTX alumni, has unveiled a closed-beta version of its Unified Prediction Portfolio. The product integrates prediction markets with spot trading and perpetual futures, allowing traders to hedge positions and place market bets within a single cross-margined account. The invite-only beta is currently being tested by select active traders to refine its risk engine—a MOVE that positions Backpack as a vertically integrated exchange for multi-product capital efficiency.

The platform’s architecture mirrors institutional trading desks, merging speculative predictions with traditional crypto derivatives. Unlike standalone prediction markets, Backpack’s solution lets users compound leverage across asset classes—a feature likely to appeal to arbitrageurs and volatility traders. The launch signals growing demand for unified crypto trading interfaces that blur the lines between gambling and finance.