As Polymarket shines this year, market maker Wintermute and exchange dYdX have announced that they will launch their own prediction markets.
Wintermute prediction market platform OutcomeMarket
According to the announcement, OutcomeMarket will focus on this year’s U.S. presidential election and will be launched on Ethereum, Base and Arbitrum at the same time, using tokens TRUMP and HARRIS as ways for users to participate in predictions.
Wintermute emphasizes that OutcomeMarket adopts multi-chain operation, allowing users of each chain to directly participate in the prediction market without the need for cumbersome cross-chains. In addition, TRUMP and HARRIS will be integrated with DeFi protocols in the future, allowing users to participate in predictions while also earning profits from holding positions. Or leverage.
TRUMP and HARRIS will be listed on Bebop, WOO, Backpack and other exchanges to provide liquidity for the prediction market.
Own your outcome with OutcomeMarket
Wintermute is developing a permissionless smart contract for a new US presidential election prediction market
The market will be accessible across Ethereum, Base, and Arbitrum, supported by @chaos_labs’s Edge Proofs Oracle
Debuting 2 tokens:… pic.twitter.com/N5IqvOqDaL
— Wintermute (@wintermute_t) September 17, 2024
dYdX launches perpetual contract prediction market
In addition to Wintermute, dYdX revealed that the upgraded version dYdX Unlimited to be launched this year also includes a perpetual contract prediction market, allowing users to make leveraged bets on predicted events, and hopes to differentiate it from centralized platforms to attract more Users enter the DeFi field.
The dYdX Unlimited upgrade also includes a main liquidity pool called MegaVault, which will provide instant liquidity for prediction markets. dYdX said it will expand its business in areas such as prediction markets and foreign exchange trading to attract the attention of more traders.
The rise of prediction markets and regulatory concerns
Prediction markets have performed well in elections in the past, and they are even more brilliant this year. Polymarket’s election odds and political data were integrated into the terminal by Bloomberg, highlighting the growing importance of prediction markets in political analysis.
(Strengthening political analysis and forecasting! Bloomberg integrates Polymarket US election data into the terminal)
However, with more attention, the prediction market is also facing more regulatory challenges. Polymarket was fined US$1.4 million by the U.S. Futures Trading Commission (CFTC) in 2022. Recently, another prediction market, Kalshi, was also accused of election manipulation risks. In litigation with the CFTC.
(Afraid of affecting Polymarket? CFTC appeals the prediction market Kalshi ruling to pursue concerns about election market manipulation)
This article Divide Polymarket’s market share, Wintermute, dYdX announce the launch of prediction market platform first appeared on Chain News ABMedia.
