Polymarket Partners with Chainlink to Enhance Price Bet Integrity

Polymarket has joined forces with Chainlink to improve the integrity of its betting resolution process. As the largest prediction market platform globally, Polymarket will utilize Chainlink's on-chain data to automatically settle markets related to asset prices, thereby reducing delays and the risk of manipulation, as announced by both companies on Friday. The integration, currently live on Polygon, will initially focus on cryptocurrency prices, with potential expansion to more complex markets in the future. This means that markets based on asset prices will be resolved using data directly from Chainlink's decentralized oracle network. Presently, Polymarket relies on UMA's optimistic oracle system to determine the outcomes of its prediction markets, which has led to controversy surrounding governance attacks aimed at influencing market outcomes. Chainlink's infrastructure combines timestamped price feeds, known as Data Streams, with automated settlement tools, enabling markets to settle as soon as the designated time expires, according to a press release shared with CoinDesk. Polymarket plans to expand its use of Chainlink data beyond asset prices, although it acknowledges that resolving more subjective markets poses a significant challenge. It is worth noting that some contentious outcomes on Polymarket have also involved more subjective markets, including decisions based on the attire of Ukrainian President Volodymyr Zelensky.