Crypto prediction market Polymarket has revealed plans to offer attention markets, marking its latest expansion, even as the prediction market continues to heat up. This move also comes amid a regulatory crackdown, with state regulators classifying these prediction platforms as gambling
Polymarket Partners With Kaito To Launch Attention Markets
According to a Forbes report, Polymarket will partner with Kaito Ai to launch “attention markets,” which enable users to bet on the popularity and public opinion of trends, brands, and people. Kaito’s CEO, Yu Hu, noted that these new markets will quantify the volume and shifts in public attention using social media data.
Furthermore, these markets will be based on two metrics, mindshare and sentiment, which focus on how much social media users are discussing a particular subject and whether such discussions are positive or negative. Using data Kaito pulls from these social media platforms, Polymarket will create markets that allow people to bet on what the midshare or sentiment will be for a particular topic, individual, or company, among other things.
The firm’s head of crypto revealed that they plan to roll out these attention markets starting early March, with thousands of markets by the end of the year. Kaito’s CEO also provided more insights, stating that the first markets will be on AI-related topics before they further expand to entertainment and world events in the coming year.
This expansion comes amid a regulatory crackdown on prediction markets. States, including Massachusetts, have moved to ban prediction markets, claiming they operate unlicensed sports betting platforms. As CoinGape reported, Polymarket has sued Massachusetts, arguing that prediction markets fall under federal oversight and not state regulators.
Kaito Elaborates More On These Markets
In an X post, Kaito confirmed this move in partnership with Polymarket, noting that attention markets are the next trend in predicting internet trends. This marks a major move for the firm, especially since X’s crackdown on InfoFi crypto projects.
Kaito noted that prediction markets are becoming a core part of not only crypto but also everyday life more widely. “Measurable attention opens up a new way for them to be utilized, letting people predict and capitalize on trends,” the firm further stated.
The platform also revealed that they will build these attention markets directly into their main site and plan to launch a new standalone site to enable attention prediction across various areas, starting with crypto. It plans to further expand into AI, finance, entertainment, sports, geopolitics, and other “culturally relevant domains.”
Kaito added that it will roll out in stages, making these attention marks a core part of Kaito’s and Polymarket’s ecosystem. The KAITO token is up almost 7% amid this move, trading at around $0.33, according to TradingView data.
Source: TradingView; KAITO Daily ChartSource: https://coingape.com/prediction-market-news-polymarket-to-offer-attention-markets-amid-regulatory-crackdown/
