X officially partners with crypto prediction platform 'Polymarket.'
X, owned by Elon Musk, has partnered with Polymarket as its official prediction market partner. This partnership aims to bring transparent, market-based forecasting into the mainstream. Here's what's happening:
While specifics are scarce, Polymarket odds and widgets will soon appear in X posts and livestreams, allowing users to bet on events like US elections and sports finals.
The partnership has already boosted Polygon's price, as Polymarket operates on the Ethereum-based Polygon network.
Elon Musk has previously praised Polymarket, saying it's "more accurate than polls, as actual money is on the line". He even cited Polymarket's prediction of Trump's lead over Kamala Harris by 3% in betting markets during the 2024 presidential election.
The platform believes this partnership marks a new chapter for truth on the internet, with the future of news being "optimized for truth, rooted in transparency, and anchored in reality".
This partnership could significantly change the crypto ecosystem, potentially increasing Polymarket's user base and mainstream adoption of crypto-based prediction markets.
Some potential applications of this partnership include:
Users can bet on various events, such as elections, sports, and global affairs, using cryptocurrency.
Combining Polymarket's prediction market probabilities with X's real-time insights could provide contextualized, data-driven insights to millions of users.
This partnership might drive more users to Polymarket and increase the adoption of cryptocurrency-based prediction markets.