UAE-Linked Prediction Market Removes USD1 References; Onchain Analysis Shows It Actually Uses USDC

November 12: According to Bloomberg, ADI PredictStreet, the official prediction market partner of the World Cup, has removed from its website statements that it operates using USD1 — the stablecoin from the Trump family's crypto project World Liberty Financial (WLFI) — after repeated inquiries from Bloomberg, replacing them with USDC and saying the original information was outdated. Onchain analysis commissioned by Bloomberg and conducted by TickerTracker found no evidence that the platform transacts in USD1; it actually uses USDC issued by Circle.

PredictStreet's operator was once listed as a subsidiary of International Holding Company (IHC), which is owned by Tahnoon, the UAE's National Security Adviser. An IHC spokesperson said it is no longer a subsidiary. In addition, according to Arkham data, about 64% of USD1's circulating supply is held on Binance, and no other exchange holds more than 5%.