Predictive Market Partner Declared by X
Blast from the Past: June 6, 2025, 05:31h.
Todd Shriber @etfgodfather Chats about Gaming, Prediction Markets, and Crypto with a Twist of Mergers and Acquisitions
Elon Musk’s X, the once-known Twitter, recently revealed some juicy news: it’s teaming up with prediction market powerhouse Polymarket!
This announcement dropped just under three weeks after rumors circulated about a potential deal between X and Kalshi. However, Tarek Mansour, Kalshi co-founder, jumped the gun with a premature tweet in May claiming a deal was in the works—oops!
X shared the scoop on their partnership with Polymarket through their official account with a simple statement:"We're linking up with Polymarket as our official prediction market partner." But for more juicy details, users could turn to X's AI assistant, Grok.
According to Grok, the X-Polymarket collaboration is all about integrating Polymarket's prediction market platform into X, allowing users to wager on event outcomes like sports or elections with cryptocurrency. This integration could spice up user engagement, provide real-time insights, and offer potential earnings for accurate predictions. But, concerns about gambling risks, regulatory hurdles, and the challenge of catering to non-crypto users aren’t far from the minds of some folks.
Grok also mentioned that the full extent of the X-Polymarket partnership is hazy at the moment, though perhaps in the future, prediction markets could be baked into posts on X. This feature would depend on approval from the regulatory world and X users' acceptance.
Polymarket: The (Less) Controversial Partner for X?
Kalshi sure knows how to stir up controversy, especially when it comes to sports contracts. The company's facing a flurry of state-level legal challenges, with states accusing it of violating gaming laws by peddling sports derivatives without a gaming license.
On the other hand, Polymarket's been flying under the regulatory radar so far. The company makes predictions about a wide range of events, including sports, but it's not creating the same stir surrounding sports derivatives like Kalshi. That makes Polymarket a potentially less dicey dance partner for X.
"Emerging as a vital source of real-time, trusted information worldwide," Polymarket has gained traction since its 2020 launch. In 2024, it facilitated $8 billion in predictions—and the numbers are looking steady for 2025. By focusing on political and cultural events rather than sports derivatives, Polymarket has managed to stay on the good side of regulators—for now, at least.
Polymarket Partnership: Crypto Ties for X Get Even Tighter
Polymarket has been down with crypto since the beginning and with the X partnership, crypto is neck-deep in X's house. Users betting on predictions must dip into their crypto stash to participate, which could boost crypto interest among X’s massive user base.
The crypto currency behind Polymarket, Polygon, works on the Ethereum blockchain. This token has connections to other wagering entities, including the crypto world’s heavyweight: Ethereum. Much like Polygon, Ethereum is famous for handling transactions involving non-fungible tokens (NFTs), making it a crucial player in the digital universe.
Polygon aims to solve the issues often attributed to blockchain networks, such as high fees and sluggish speeds, while maintaining rock-solid security. It's got some competition in this multichain race, with ponies in the form of Polkadot, Cosmos, and Avalanche also fighting for a spot in the crypto kingdom.
- In a surprising turn of events, Elon Musk's X, previously known as Twitter, has partnered with prediction market powerhouse Polymarket, moving away from the rumored deal with Kalshi.
- The X-Polymarket collaboration is set to integrate Polymarket's prediction market platform, enabling users to wager on event outcomes like sports or elections with cryptocurrency.
- Polymarket, a less controversial partner compared to Kalshi, has managed to stay on the good side of regulators by focusing on political and cultural events instead of sports derivatives.
- The partnership between X and Polymarket will see crypto becoming increasingly prevalent in X's platform, with users required to use cryptocurrency for sports and election wagers, potentially boosting crypto interest among X's vast user base.
