<\/p>\n
Reportedly raising funding at a $3 billion valuation, Polymarket is working with Chainlink following its previous governance and oracle dilemmas.<\/p>\n
Polymarket, the largest onchain prediction market, has unveiled a partnership with top oracle provider Chainlink to settle markets related to asset prices.<\/p>\n
Chainlink\u2019s data standard will be integrated into Polymarket\u2019s resolution process in order to provide \u201cnear-instant\u201d settlement and ensure accuracy standards. Currently, Polymarket resolutions can take hours depending on the circumstances.<\/p>\n
\u201cPolymarket’s decision to integrate Chainlink’s proven oracle infrastructure is a pivotal milestone that greatly enhances how prediction markets are created and settled,\u201d said Sergey Nazarov<\/a>, the co-founder of Chainlink. \u201cWhen 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.\u201d<\/p>\n Polymarket is also reportedly<\/a> in the process of raising new funding, with at least one investor offering a term sheet that values the prediction market at \u201cas much as $10 billion.\u201d<\/p>\n The move comes two months after Polymarket\u2019s controversial resolution<\/a> of the \u201cWill President Zelenskyy Wear a Suit\u201d market, where fashion experts opined that Ukrainian President Zelenskyy had worn an outfit that technically met the definition of a suit. However, Polymarket\u2019s governance vote, decided via UMA, collectively decided that the market should resolve to \u201cNo\u201d (not a suit), leaving those on the wrong side of the trade fuming.<\/p>\n UMA will continue to be used for settling market disputes, while Chainlink\u2019s oracles facilitate fast settlements for straightforward markets backed by data.<\/p>\n Polymarket first launched in 2020, but activity surged in 2024 ahead of the U.S. presidential election, reaching an all-time high monthly volume of $2.5 billion in October 2024. While the platform\u2019s volumes are down compared to its peak months, it still processes roughly $1 billion of volume<\/a> per month, more than it did in all of 2023.<\/p>\n Reportedly raising funding at a $3 billion valuation, Polymarket is working with Chainlink following its previous governance and oracle dilemmas. Polymarket, the largest onchain prediction market, has unveiled a partnership with top oracle provider Chainlink to settle markets related to asset prices. Chainlink\u2019s data standard will be integrated into Polymarket\u2019s resolution process in order to […]<\/p>\n","protected":false},"author":2,"featured_media":404885,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-404882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/404882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=404882"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/404882\/revisions"}],"predecessor-version":[{"id":404886,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/404882\/revisions\/404886"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/404885"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=404882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=404882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=404882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}