X chooses Polymarket as its official partner for prediction markets

X is joining forces with Polymarket as its official partner for adding predictions to the leading social media app. Polymarket distinguished itself as a tool to vet news and trends, while X has hinted at seeking to add predictions to its services. 

X has officially announced Polymarket as its partner for adding predictions to the social media app. Polymarket remains a tokenless protocol that uses stablecoins for its bets. Recently, the app showed it was part of the current news pulse, gauging opinions and successfully predicting the outcome of current events in some cases. 

Polymarket also announced the partnership through its X account, starting a ‘new chapter for truth on the Internet.’ The initial announcement briefly caused the Polymarket server to crash on the newly gained fame.

X has previously been linked to Kalshi , a smaller prediction market, but Polygon has also been considered the most logical choice. While the crypto space has attempted to create multiple prediction platforms, Polymarket managed to consolidate a predictable user base. The significant liquidity and the ability to crowd-source issues turned Polymarket into a valuable source for decision-makers. 

Polymarket to tap X user base for even wider market reach

According to Grok, X’s AI agent, the partnership will integrate Polymarket’s platform into X, allowing social media users to make direct bets on outcomes. The bets will be made using cryptocurrency, with the potential to embed markets into posts. 

Some of the obstacles to integration may be regional gambling limitations, which often affect prediction markets. Polymarket itself has been restricted in France after a regional trader made millions predicting the outcome of the US presidential elections. At that time, Polymarket’s effect was also considered risky in swaying public opinion, especially when combined with the leading social media app. 

Polymarket faced increased scrutiny after the US presidential elections but also gained a new baseline of users. On a monthly basis, the app saw over 277K active wallets. The platform carried over $175M in open interest, though skewed to the biggest prediction pairs.

For now, Polymarket remains tokenless and is one of the most in-demand apps on Polygon, one of the earliest L2 chains. Polymarket is also key for the turnover of USDC, the main token for making predictions. 

The integration of Polymarket may further boost the political influence of X while creating a new source of revenue. Additionally, the platform may integrate crypto reliably with another use case for stablecoins. 

While X posts can serve to reveal trends, a live betting market would directly gauge opinion while broadcasting the most contentious issues. Polymarket has been closely watched, especially in its most active sections for current events and hot news. The odds of betting are completely transparent and present on-chain and cannot be easily swayed. X can add a more user-friendly front end, boosting the available liquidity and potential traders. 

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