Polymarket—a crypto-native, leading prediction market—has now partnered with Yahoo Finance to become the exclusive provider of such service to the news and data service platform. The exclusive partnership will provide real-time insights based on Polymarket’s bets to Yahoo Finance users and highlight the importance prediction markets are gaining as event-based forecasting tools.
Notably, Polymarket grew to be the prediction market with the highest volume and easiest accessibility thanks to being a crypto-native platform running, initially, on Polygon, using Circle’s dollar-pegged stablecoin, USDC, as the native currency for placing bets and receiving the rewards.
The brand has formed significant alliances and partnerships in recent months, expanding its offerings and market share. Partnering with Yahoo Finance under an exclusive agreement positions Polymarket even further in the prediction market race.
Google, a direct competitor to Yahoo and industry leader, is also tapping into prediction market-oriented insights from Polymarket and Kalshi for the Google Search and Google Finance products, as Coinspeaker reported on November 6.
Prediction markets are equally important and controversial while offering insights to the broader population. Basically, they work in a way where traders can place odds-oriented bets on events that have not happened yet, profiting from the opposing odds if the event happens as forecasted.
For example, a popular bet currently going on Polymarket is on what day the government shutdown will end. As of this writing, most of the bets are placed on the shutdown ending today, on November 12, with a 64% chance of this event happening as forecasted.
So, each “yes” bet costs $0.64 and will pay $1 (by default) per bet for the winning outcome. Anyone betting on “yes” for “November 12” right now will receive a $0.36 profit per bet, which is the difference between one dollar and the bet cost.
This is controversial but equally important insight, especially because insiders can leverage their privileged information to bet with large size on the outcome they know is correct, profiting from that. Hence why people have started to look at high-volume prediction markets as a way to get indirect access to this type of information.
The example bet here has a total volume of $7.33 million, and November 12 has received $1.48 million in bets so far, raising its significance. Nevertheless, false positives can always happen, and like any market, prediction markets can be manipulated.