Polymarket and Chainlink (LINK) are partnering “to launch 15-minute crypto price markets featuring near-instant settlement and industry-leading security.” Per an announcement from both platforms on Friday, the partnership will initially focus on enhancing the accuracy and speed of asset pricing resolutions, with plans to expand into additional markets.
“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. Polymarket’s partnership with Chainlink is a decisive step toward a world powered by cryptographic truth.”
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Polymarket is an American cryptocurrency-based prediction market, headquartered in Manhattan, New York City. Established in 2020, the platform previously faced hurdles in operating its prediction platform in the US. However, the CFTC’s recent green light is a long-awaited one for Polymarket to continue its huge growth over the last few years. Now, its integration with Chainlink will further stamp its footprint in the US crypto prediction market.
Indeed, the CFTC recently approved the Polymarket crypto prediction platform to operate its market prediction platform in the US. The partnership with Chainlink is a new move that could further solidify Polymarket in the US as a trusted prediction platform, with it already being popular for its predictions of other notable events. According to Polymarket, its integration of Chainlink is already live on Polygon mainnet, enabling the creation of secure, real-time prediction markets around asset pricing, including hundreds of live crypto trading pairs.
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Furthermore, Polymarket and Chainlink are also exploring methodologies to expand the use of Chainlink to settle prediction markets involving more subjective questions, thereby reducing reliance on social voting mechanisms and further minimizing resolution risk. Beyond pricing predictions, Polymarket and Chainlink are exploring how to apply oracle networks to more subjective questions, which have typically relied on social voting mechanisms. The companies say expanding to these markets could further minimize bias and strengthen resolution integrity. Polymarket has yet to comment on the market price prediction partnership.
The native Chainlink LINK cryptocurrency is up 3.4% on Friday following the Polymarket announcement, continuing a nearly 10% weeklong gain streak.