Today, Polymarket, the world’s largest onchain prediction markets platform, announced its partnership with Chainlink to enhance how prediction markets are created and settled. An initial integration of Chainlink Data Streams and Chainlink Automation is now live on Polygon mainnet.
Polymarket’s platform allows users to place bets on various future events, including economic indicators, weather patterns, awards, election results, and legislative outcomes. Participants deposit USDC on Polygon and trade shares that represent the likelihood of specific outcomes.
Data Streams is a pull-based oracle solution that allows protocols to consume data more cost-effectively and at lower latencies while reducing the risk of frontrunning and MEV. Automation enables vital onchain functions to occur at regular time intervals or in response to external events, increasing efficiency and minimizing the potential for human error.
Both services use Chainlink’s hyper-reliable oracle infrastructure, which has facilitated over $25 trillion in transaction value and secures nearly $100 billion throughout DeFi.
Data Streams provides low-latency, timestamped, verifiable oracle reports, while Automation permits timely, automated onchain settlement. This combined infrastructure allows secure, real-time prediction markets to be created around asset pricing, including hundreds of live crypto trading pairs, with near-instantaneous resolution of asset pricing markets, such as Bitcoin price predictions, according to a predetermined date and time.
In the future, Polymarket aims to expand its use of Chainlink to settle prediction markets involving more subjective questions, which would reduce its reliance on social voting mechanisms and further minimize resolution risk.
In an official announcement, Chainlink co-founder Sergey Nazarov called the collaboration a “pivotal milestone” for onchain prediction markets.
“When 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,” he said. “Polymarket’s partnership with Chainlink is a decisive step toward a world powered by cryptographic truth.”
To learn more about Polymarket, visit their website, X, and Discord.