Key Takeaways
- Polymarket is integrating Chainlink’s data services to provide real-time asset pricing prediction markets.
- The collaboration supports automated, tamper-proof market settlements on Polygon using Chainlink oracles and automation.
Polymarket has adopted Chainlink’s data standard to power its resolution process, the system that determines the final outcome of prediction markets, according to a Friday announcement.
Starting with asset pricing markets, the partnership will work to deliver more accurate and timely resolutions for Polymarket prediction markets. The two teams also aim for future expansion after initial deployment.
The integration, now live on the Polygon mainnet, enables the creation of real-time prediction markets around asset pricing, including hundreds of live crypto trading pairs.
The partnership leverages Chainlink Data Streams and Chainlink Automation to provide low-latency, timestamped oracle reports and automated on-chain settlement of markets.
Chainlink’s data infrastructure has secured nearly $100 billion in DeFi total value and enabled tens of trillions in transaction value. The platform is now powering a US government initiative to publish official economic data on multiple blockchains.
Polymarket is a decentralized platform where users trade shares on real-world events, and the resolution process determines the actual outcome, allowing markets to close and enabling winning shares to be paid out.
The company recently acquired QCEX, a CFTC-licensed exchange and clearinghouse, for $112 million, opening the door to a US market return. It has also joined forces with Elon Musk’s X to provide an integrated product with data-driven insights and personalized recommendations.
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Source: https://cryptobriefing.com/real-time-prediction-markets-chainlink/
