Polymarket Bets $45K on 50% Odds of CZ Returning to Binance by 2025
After Chad Zhao received his Presidential pardon on October 23rd, Polymarket opened a betting market for traders to predict whether...
Quick overview
- Chad Zhao received a Presidential pardon on October 23rd, prompting Polymarket to open a betting market on his potential return to Binance by December.
- The betting market showed a 50/50 split on his return, with over $45,000 in trades already placed.
- Zhao's pardon may alleviate regulatory pressures, increasing speculation about his possible return to a management role at Binance.
- Despite stepping back from daily operations, Zhao remains influential at Binance and is actively involved in various innovative projects.
After Chad Zhao received his Presidential pardon on October 23rd, Polymarket opened a betting market for traders to predict whether the former Binance Chief would return to the job by the end of December. By October 24th, that market was already showing a 50/50 split on whether he might come back, with about half of the betters thinking he will. And people are taking this seriously, as the market has already raked in over 45,000 dollars in trades.
Polymarket has been going since September 19th, almost 1 year after Zhao wrapped up a 4-month prison sentence for money laundering. Earlier this year, a large majority of traders believed he might return to the Binance CEO role. But right before the pardon was announced, the odds of that happening were down to a measly 7%. Then, after the news came in, the odds shot up to 51%.
CZ’s Pardon and Binance Stuff
White House Press Secretary Karoline Leavitt confirmed that the pardon had been granted. She was highlighting that President Trump had been exercising one of his constitutional powers and hinting that this might be the end of the regulatory pressure the crypto sector has been facing. Zhao then posted a big thank-you on social media, saying he wants to help turn America into the crypto capital.
This timing looks good for Binance, who just so happen to be planning to get back into the US market. Last month, they discussed ending their compliance monitoring a bit early. Still, they’ll need approval from the White House or the Treasury Department before they can actually do anything. Binance’s BNB token has risen by about 2.66%.
Key Points:
- Zhao’s still got a lot of Binance shares.
- The Binance board has to give its say before he can become CEO again.
- With the pardon, he won’t have to worry about regulatory issues as much, which could allow him to return to an advisory or management role at Binance.
CZs New Ventures
Ever since he got out of prison in September, Zhao has been super focused on innovation and investments. He’s running YZi Labs, which used to be Binance Labs, and he’s also been getting his hands dirty with some pretty cool projects in Web3, AI, robotics, and biotech. He also manages Giggle Academy, which received a nice bit of BNB funding—over 11 million bucks.
Even though he’s stepped away from day-to-day Binance operations, Zhao still has significant influence there. And now that the pardon has cleared the way, there’s a lot of speculation about whether he might come back into a management or advisory role. He had previously said he had no intention of returning to Binance, but now that has changed.
Impact on Traders:
- Polymarket betting suggests traders think there’s a good chance he’ll return to Binance.
- People with Binance shares are getting pretty anxious—they want to know what’s going to happen to the company after he comes back.
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