Nigerians can now trade on real-world events via Busha’s licensed prediction market

Nigerian crypto platform Busha has launched Signal by Busha, a licensed online prediction market that lets users buy and sell positions on the outcomes of real-world events, the company announced Sunday.

Accessible immediately as a web platform, Signal allows Busha's over one million users to trade on event outcomes across sports, crypto, politics, economics, culture, and trending topics, according to a report by Nairametrics.

Bridging Crypto Wallets and Regulated Forecasting

The product operates under a license from the Lagos State Lotteries and Gaming Authority (LSLGA), a regulatory framework that treats event-based trading contracts as a gaming product delivered through fintech rails. Laolu Samuel-Biyi, commenting on the launch in a coverage by TechBooky, stated, "Signal is one of Africa's first licensed prediction markets and is now available to a select group of Busha users ahead of a broader rollout in the coming days."

Samuel-Biyi added that Signal was operating with authorisation from the FSGRN through the LSLGA, calling it "an important milestone for regulated prediction markets on the continent."

How the Market Works

Existing Busha users can access Signal directly with their current accounts, funding their Signal wallets from Busha balances in Naira, stablecoins, and other supported cryptocurrencies. Rather than one-off bets, users can buy and sell positions throughout the life of a market, adjusting their exposure as information changes.

Markets are settled using official event sources where available. For events lacking a single authoritative source, an internal resolution team steps in under publicly available market resolution policies and consumer protection guidelines, the company stated. Payouts are automatically credited to users' Signal wallets and can be withdrawn back to their Busha accounts.

A Step in Busha’s Evolution

The launch is part of what the company calls "Busha 3.0," moving beyond its origins as a crypto exchange into financial and data infrastructure. "We’ve been working to evolve beyond payments and trading into entirely new financial and data infrastructure," Samuel-Biyi said. "Signal is another step in that direction."

Busha, which holds approval-in-principle under Nigeria’s SEC digital asset rules, frames the platform not just as a venue for speculation but as a tool for generating crowd-sourced data on collective expectations. The company suggests the market-based probabilities could be useful to researchers, investors, and policymakers, mirroring a global trend led by platforms like Polymarket and Kalshi.

With access to its million-plus community, Samuel-Biyi stated that Signal is "positioned to become Africa's largest regulated prediction market by user base." The web platform is available immediately to a select group of users, with a wider rollout expected in the coming days.