Cryptocurrency UMA, a form of indirect exposure to Polymarket, is up 15% after a 500% surge in trading volume in the last 24 hours.
X, formerly Twitter.
Polymarket, a prediction market using cryptocurrencies, closed a partnership with X, formerly Twitter, this Friday (6). The platform gained notoriety during the American and Brazilian elections last year, both in volume and in accuracy.
Among the examples is the re-election of Ricardo Nunes as mayor of São Paulo, as well as the victory of Donald Trump in the USA.
In addition, the platform can also be seen as a source of news. This is because it covers various subjects, including geopolitics, macroeconomics, technology, culture, among others.
Therefore, given that X is seen as a "digital public square" by Elon Musk, Polymarket could be viewed as an extension of those conversations, adding money to the equation.
Polymarket becomes a partner of X
The partnership between the two companies was announced by the official accounts of X, formerly Twitter, this Friday (6).
"We are excited to introduce Polymarket as the official prediction market partner of X."
"Amidst so much noise, prediction markets provide clarity through a single powerful signal: price. Polymarket has established itself as the leading authority in accurately forecasting elections, global events, and cultural trends," wrote the team at X. "We are excited about the future of this partnership — stay tuned."
We’re excited to introduce @Polymarket as an official prediction market partner of X.
In a sea of noise, prediction markets deliver clarity through a single, powerful signal: price. Polymarket has established itself as the leading authority in accurately forecasting elections,…
— Business (@XBusiness) June 6, 2025
No details about the integration of the two platforms have been announced as of the date. However, users have already begun to imagine some use cases, such as the addition of interactive predictions on X itself about trending topics.
A similarity between X and Polymarket is that both platforms present themselves as alternatives to traditional media.
"The next era of information will not be driven by the 20th-century media monopolies — it will be driven by markets."
"Our partnership with X marks a new chapter for truth on the internet," wrote Polymarket. "The future of news is optimized for truth, rooted in transparency, and anchored in reality."
The next information age won’t be driven by the 20th century’s media monoliths — it’ll be driven by markets.
Our partnership with @X marks a new chapter for truth on the internet.
The future of news is optimized for truth, rooted in transparency, and anchored in reality. https://t.co/3HM0CJ6PPt
— Polymarket (@Polymarket) June 6, 2025
Cryptocurrency UMA (UMA) rises 15% after partnership between Polymarket and X
As Polymarket is a decentralized market, the outcome of bets is handled by the UMA protocol, which acts as an oracle and allows holders of its cryptocurrency to participate and be rewarded in decision disputes.
In other words, the cryptocurrency UMA would be a form of indirect exposure to Polymarket. Therefore, given that the platform is expected to receive greater exposure and volume with the partnership with X, the cryptocurrency saw a spike in volume and price shortly after the announcement.
Cryptocurrency UMA saw a surge in volume and price after the partnership between Polymarket and X. Source: TradingView.
While its price is up 15% after a brief pullback, its volume in the last 24 hours has grown by more than 500%, showing demand for the market.
