Predictive partner X claims affiliation with Polymarket as official prediction market partner
Posted on: June 6, 2025, 05:27h.
Last updated on: June 6, 2025, 05:31h.
Todd Shriber @etfgodfather Read More Financial Gaming Business Mergers and Acquisitions Elon's X and Polymarket form a powerful alliance
After weeks of speculation, social media giant Elon's X, previously known as Twitter, officially partners with Polymarket, the world's largest prediction market platform.
The collaborative move comes days after rumors surfaced about a potential deal between X and Polymarket rival Kalshi. However, a premature tweet from Kalshi co-founder Tarek Mansour confirmed no such arrangement was in place[1].
A statement issued by X reveals the tie-up combines Polymarket's prediction market platform with X's real-time data and its AI-powered assistant, Grok, enabling users to bet on event outcomes such as elections or sports using cryptocurrency[2]. Expect this partnership to add fuel to not only X's crypto fire but also boost engagement levels, offering blazing-fast insights and potential earnings for sharp-eyed predictors.
However, the alliance has its share of controversy, with concerns surrounding gambling-like risks, regulatory hurdles, and accessibility for non-crypto users[3]. But, compared to rival platform Kalshi, Polymarket has remained a low-key player, focusing on elections and cultural shifts over the volatile realm of sports contracts[1][4].
Just like rivals Kalshi and PredicIt, Polymarket gained traction during the 2024 US presidential election. The partnership with X, then, could signal Polymarket establishing itself as a less controversial partner for the social media giant[4].
Over the past year, prediction markets have grown increasingly fond of cryptocurrencies, and Polymarket has been an early adopter, implementing USD Coin (USDC) as the sole account-funding mechanism and basing its contracts on the Polygon cryptocurrency[5].
Take note that Polygon shares some roots with other wagering entities, such as Ethereum - the second-largest digital currency trailing only Bitcoin - and offers improvements over ordinary blockchains, including reducing gas fees and increasing speeds, all while maintaining optimal security levels[5].
In summary, the juicy pairing of Elon's X and Polymarket struts into the world of social media and cryptocurrency like a power-dressed colossus. With the potential to augment crypto adoption and fire up user engagement on X, the crossover could disrupt the digital landscape while offering quick insights and hot earnings for those who accurately predict the future's twists and turns.
- Sources: CoinDesk on Kalshi, June 6, 2025
- Official statement from X announcing the partnership, June 6, 2025
- Analysis of potential risks by The Verge, June 6, 2025
- Exclusive on the latest X-Polymarket partnership by The Block, June 6, 2025
- Polymarket website, June 6, 2025
- The collaboration between Elon's X and Polymarket will enable users to bet on event outcomes such as elections or sports using cryptocurrency, combining Polymarket's prediction market platform with X's real-time data and AI-powered assistant, Grok.
- Polymarket has implemented USD Coin (USDC) as the sole account-funding mechanism and bases its contracts on the Polygon cryptocurrency, reflecting the growing fascination of prediction markets with cryptocurrencies over the past year.
- Polygon, on which Polymarket's contracts are based, shares some roots with other wagering entities like Ethereum, offering improvements over ordinary blockchains by reducing gas fees and increasing speeds while maintaining optimal security levels.
- This strategic partnership between X and Polymarket has potential implications for both businesses, with the alliance expected to boost X's crypto adoption and increase user engagement, and the combination heralding Polymarket's arrival as a less controversial partner in the world of social media and finance.
