Polymarket Connects to Chainlink to Cut Tampering Risks in Price BetsPolymarket is turning to Chainlink to clean up how it resolves bets.
The world’s largest prediction market platform will use the on-chain data provider to automatically settle asset-price-related markets, cutting down on delays and tampering risks, the two companies announced Friday.
The integration is live on Polygon and will initially focus on crypto asset prices while the firms explore potential applications for more subjective markets. That means markets based on asset prices will resolve based on data directly fed from Chainlink’s decentralized oracle network.
Polymarket currently relies on optimistic oracle system UMA to determine the outcomes of its prediction markets. That has often led to controversy over governance attacks made to influence the outcomes of some markets.
Chainlink’s infrastructure combines timestamped price feeds, known as Data Streams, with automated settlement tools. That, the project said in a press release shared with CoinDesk, allows a market to settle as soon as the clock runs out.
Polymarket says it plans to expand the use of Chainlink data beyond asset prices, though subjective markets remain a challenge.
Some controversial outcomes on Polymarket, it’s worth noting, also involved more subjective markets, including decisions based on Ukrainian President Volodymyr Zelensky’s clothing.
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Polymarket Connects to Chainlink to Cut Tampering Risks in Price Bets
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