Polymarket Partners with Chainlink for Faster Prediction Market Settlements
TLDR
- Polymarket now uses Chainlink for instant, automated market settlements on Polygon.
- Chainlink’s oracles secure Polymarket’s data, ensuring tamper-proof predictions.
- Polymarket expands real-time resolution to subjective markets with Chainlink integration.
- The partnership strengthens Polymarket’s global reach, supporting U.S. market entry.
Polymarket, a platform focused on crypto-powered prediction markets, has integrated Chainlink’s technology to enable faster and more reliable market settlements. This partnership aims to eliminate delays in market resolutions and provide real-time, tamper-proof data. The integration brings low-latency, automated settlements to Polymarket, making it easier for users to trade with confidence. With this update, Polymarket enhances the overall user experience and brings a new level of trust and speed to the prediction market space.
Real-Time Resolutions Powered by Chainlink
By integrating Chainlink Data Streams and Automation, Polymarket has improved its ability to deliver near-instant settlement for prediction markets. This change enables users to create and settle markets related to asset pricing with minimal delay.
Using decentralized oracles, Chainlink ensures that the data powering these markets is secure and tamper-proof. The integration now provides verifiable and low-latency price reports on the Polygon mainnet, supporting a wide range of crypto trading pairs.
“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. The move removes the need for manual or social resolutions, making the process more efficient and reliable.
Expanding the Scope of Prediction Markets
While the initial focus of the integration is on asset pricing markets, Polymarket has plans to expand the use of Chainlink’s infrastructure to cover subjective markets. These could include political events or other non-quantifiable outcomes, where data is often difficult to verify. The integration will allow Polymarket to settle these types of markets with confidence, reducing reliance on social voting mechanisms.
With Chainlink’s trusted data feeds, Polymarket aims to offer real-time, objective market resolutions that are more reliable than traditional prediction methods. As the platform continues to grow, it plans to make prediction markets a key tool for traders and decision-makers worldwide.
Polymarket Strengthens its Global Presence
This integration with Chainlink also bolsters Polymarket’s global expansion efforts. Recently, Polymarket acquired QCEX, a CFTC-licensed exchange, signaling its intent to return to the U.S. market. The integration of Chainlink’s secure infrastructure strengthens Polymarket’s offering, making it a more attractive platform for users worldwide.
By ensuring fast, reliable, and automated market resolutions, the platform enhances its appeal to both casual traders and professional market participants.
As Polymarket continues to innovate, it is positioning itself as a leader in crypto prediction markets. With this integration, Polymarket is taking a significant step toward enhancing the user experience and building a more robust, decentralized prediction platform.
The post Polymarket Partners with Chainlink for Faster Prediction Market Settlements appeared first on CoinCentral.
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