In a recent development, Pancakeswap, a leading decentralized exchange, has launched its Prediction Market on Arbitrum, as announced in a blog post on Wednesday. This new feature is powered by an AI-driven price feed from Allora, a renowned data analytics firm.

Despite the innovative move, the overall market sentiment remains pessimistic. The constant changes in global regulations for blockchain and cryptocurrencies continue to cast a shadow over the industry. Furthermore, the volatility of the crypto market adds to the uncertainty, making it difficult for exchanges like Pancakeswap to maintain stability.

This development highlights the continuous efforts of crypto exchanges to innovate and adapt in a challenging market environment. However, the broader regulatory and market trends suggest a tough road ahead for the blockchain industry.