- Polymarket integrates Chainlink’s oracles to improve crypto market predictions with real-time data and faster resolution times.
- The partnership aims to expand market coverage, providing secure, automated settlements for crypto price predictions.
- Chainlink’s integration with Polymarket comes as the platform reenters the U.S. market, bolstering prediction accuracy and efficiency.
Crypto prediction platform Polymarket has teamed up with Chainlink to improve the speed and accuracy of its market resolutions. This partnership is set to enhance Polymarket’s existing framework by integrating Chainlink’s real-time data feeds, specifically focused on asset pricing resolutions.
Chainlink’s oracles will supply Polymarket with reliable, real-time crypto price data, helping the platform resolve market outcomes faster and with greater precision. The integration will initially target crypto asset markets, using data to settle predictions about digital asset prices, such as Bitcoin’s market value. By leveraging Chainlink’s decentralized data streams, Polymarket aims to minimize errors in resolution and reduce the reliance on social voting mechanisms.
Polymarket’s U.S. Market Re-entry and Expansion Plans
This partnership comes at a critical juncture of Polymarket, which is re-entering the U.S. market after being approved by the Commodity Futures Trading Commission (CFTC). The collaboration with Chainlink, which is already integrated into the platform on the Polygon mainnet, is aimed at enhancing the transparency and reliability of prediction markets. In the future, Polymarket and Chainlink have both proposed to expand the application of oracles to solve more subjective prediction markets, to provide a more diverse range of predictions.
While this initial focus will be on crypto price predictions, the integration is expected to support more intricate markets in the future. Both firms are working together to enhance market accuracy by providing deterministic, automated data inputs, reducing the need for human intervention. Chainlink’s data streams will enable on-chain settlement for a variety of markets, making the process more efficient and secure.
Chainlink and Polymarket have taken an important step towards more advanced and automated prediction markets. Real-time, secure data inputs are used to make sure that markets are resolved with maximum efficiency and minimal risk taken. Furthermore, this alliance shows how blockchain technology is becoming increasingly integrated in the more traditional financial markets, where real-time data is still actively involved in determining market outcomes.
