Luno Launches Crypto Prediction Market in Nigeria, Reflecting Maturing Investor Base
LAGOS, Nigeria (AP) — Cryptocurrency exchange Luno has introduced a new “Crypto Prediction Markets” product in Nigeria, allowing users to profit from short-term price forecasts without directly owning the underlying digital assets. The move signals a shift in the Nigerian crypto landscape, catering to a growing investor base seeking more sophisticated and structured engagement with digital currencies.
Nigeria remains a key market for cryptocurrency adoption globally, fueled by demand for accessible and transparent platforms. Luno’s new offering, powered by Limitless, allows customers to predict whether the price of cryptocurrencies like Bitcoin, Ethereum, Solana, Dogecoin, and XRP will close above or below a predetermined daily level.
Unlike traditional trading, participants aren’t buying the cryptocurrencies themselves. Instead, they’re making outcome-based predictions tied to real-time market data, operating within defined rules and settlement periods.
“We are seeing a clear shift in how Nigerians want to engage with crypto assets,” said Ayotunde Alabi, CEO of Luno Nigeria. “Many already follow price movements closely and form strong market views; we want to lead with education as well as provide a safe and secure platform to help them apply that knowledge.”
The launch comes as Nigerian crypto users increasingly seek alternatives to long-term holding and conventional spot trading, demonstrating a growing sophistication in tracking price movements. Analysts note the demand for tools that reflect this evolving understanding.
Luno is supporting the rollout with educational content and tutorials – a “Learn & Earn” program – designed to improve user understanding of market mechanics. The company is also implementing safeguards to promote responsible usage, including mandatory risk disclosures, dedicated prediction wallets, and restrictions on holding opposing positions within the same market.
This development reflects a broader trend within Nigeria’s crypto ecosystem, with platforms adapting to a maturing user base that prioritizes structured, transparent, and knowledge-driven engagement. Luno’s initiative builds on existing user behavior, offering a secure framework for applying market insights, and reinforces the company’s commitment to education, including its scholarship initiative with AltSchool.
