Bybit Rolls Out a Bold New Way to Bet on Bitcoin Prices

Bybit rolled out a new product called Bybit Odds on 16 September, offering fixed-return contracts on Bitcoin and Ether price movements that carry no leverage and no liquidation risk. The product lets traders allocate as little as 5 USDT to a price view, with maximum loss capped at the amount committed and potential returns displayed before order confirmation.

Three Contract Types, From Five Minutes to Seven Days

Bybit Odds operates within the exchange's existing Unified Trading Account using USDT balances already held there, which means users do not need to transfer funds into a separate wallet. The product offers three contract formats: Up/Down, which settles on whether the price finishes above or below the entry level; Price Target, which resolves on whether an asset lands above or below a predetermined level at expiry; and Price Range, which pays out based on whether the price stays within or breaks out of a defined band.Expiry windows range from five minutes to seven days, covering both intraday scalpers and multi-day directional traders. Institutional market makers provide liquidity behind the pricing, according to product documentation reviewed by CoinLaw. The distinction Bybit emphasises is straightforward: positions are not subject to margin calls or liquidation because the contracts do not use leverage, leaving the amount at risk fixed from the moment of entry.

How Odds Fits the Prediction-Market Surge

The launch arrives as fixed-outcome trading gains regulatory and commercial momentum in the United States. The Commodity Futures Trading Commission (CFTC) has been navigating overlapping jurisdictional claims with state gambling regulators and Congress over where prediction-style contracts belong in the legal framework. Polymarket, Kalshi, and Robinhood have each expanded their event-contract offerings in 2026, and Bybit's entry extends the model into crypto-native price contracts on a centralised exchange.The product's structure resembles binary options more than traditional perpetual futures, but Bybit's framing avoids that label, positioning Odds as a simplified price-view tool rather than a leveraged derivatives instrument.The practical difference for retail traders is that a losing Odds position cannot exceed the initial stake, whereas a perpetual futures position can be liquidated at a loss greater than the margin posted.

Bitcoin and Ether Only at Launch

Bybit Odds supports only Bitcoin (BTC) and Ether (ETH) at launch, with no indication of when additional assets might be added. The product is available on both web and mobile platforms. Bybit separately announced that it will launch options on its SpaceX (SPCX) and Nvidia stock perpetuals on 17 September, signalling a broader push into structured products beyond standard perpetual swaps.Whether Odds gains traction will depend on the spreads market makers offer and whether the fixed-return structure attracts traders who have avoided leveraged perpetuals because of liquidation risk. Bybit has not disclosed volume targets or whether the product will be restricted in specific jurisdictions.