Polymarket Enhances Prediction Markets with Chainlink Oracles

Polymarket Taps Chainlink for Real-Time Prediction Market Data

Polymarket, a decentralized prediction market platform, is integrating Chainlink's data feeds to enhance its resolution process. The collaboration aims to provide users with more accurate and timely outcomes for prediction markets, starting with asset pricing.

The integration is currently live on the Polygon mainnet, enabling real-time prediction markets for a wide range of assets, including hundreds of crypto trading pairs. This upgrade leverages Chainlink Data Streams and Chainlink Automation for low-latency oracle reports and automated on-chain market settlements.

Key Benefits of the Chainlink Integration:

• Real-Time Data: Access to up-to-the-minute asset pricing for improved market accuracy.
• Automated Settlements: Tamper-proof computation ensures reliable and automated payouts.
• Enhanced Security: Chainlink oracles provide a secure and decentralized data infrastructure.

“Polymarket’s decision to integrate Chainlink’s proven oracle infrastructure is a pivotal milestone that greatly enhances how prediction markets are created and settled,” said Sergey Nazarov, co-founder of Chainlink. “When market outcomes are resolved by high-quality data and tamper-proof computation from oracle networks, prediction markets evolve into reliable, real-time signals the world can trust.”

Chainlink's Expanding Role in Blockchain

Chainlink's data infrastructure secures close to $100 billion in DeFi total value and has facilitated tens of trillions in transaction value. Beyond DeFi, Chainlink is also powering a US government initiative to publish official economic data on multiple blockchains, highlighting its growing significance.

Polymarket's Strategic Growth

Polymarket allows users to trade shares on real-world events, relying on a resolution process to determine final outcomes and payouts. The company recently acquired QCEX, a CFTC-licensed exchange and clearinghouse, for $112 million, potentially paving the way for a return to the US market. Additionally, Polymarket has partnered with X (formerly Twitter) to integrate data-driven insights and personalized recommendations.