Monetary knowledge and information service Bloomberg is incorporating election odds knowledge from crypto betting platform Polymarket into its Terminal service, signaling rising institutional curiosity in blockchain-based prediction markets.
Michael McDonough, Bloomberg’s chief economist for monetary merchandise, introduced the combination on August 29. The transfer permits Bloomberg Terminal customers to view Polymarket’s real-time US presidential election odds alongside knowledge from different prediction markets and polling providers.
Because the world’s main monetary knowledge platform with roughly 350,000 subscribers globally, Bloomberg’s inclusion of Polymarket knowledge represents a major milestone for crypto prediction markets. The Terminal controls roughly one-third of the market share for monetary knowledge providers.
Polymarket, constructed on the Polygon blockchain community, has emerged as a well-liked platform for monitoring US election odds. The protocol permits customers to wager on varied occasion outcomes utilizing good contracts for clear buying and selling and payouts. August buying and selling quantity on Polymarket is approaching $450 million, with almost $760 million wagered on the November 2024 presidential election consequence.
Present Polymarket odds present Republican candidate Donald Trump with a slight edge at 50% in comparison with 48% for Democrat Kamala Harris. The platform’s bettors precisely predicted Robert F. Kennedy Jr.’s exit from the presidential race in August, with odds surging from 8% to over 90% forward of his withdrawal announcement.
Earlier this month, Polymarket partnered with Perplexity AI to supply AI-driven occasion summaries and predictions on outcomes like elections and market tendencies. Crypto Briefing additionally lined how Polymarket has seen a surge in buying and selling because the unpredictable 2024 US presidential election drew nearer, pushing bets over $300 million. In a latest protection, Ethereum co-founder Vitalik Buterin mentioned that Polymarket and different prediction market platforms supply a “social epistemic device” for a mass person base.
Whereas Polymarket faces competitors from rivals like Solana-based Drift Protocol’s BET platform, Bloomberg’s integration underscores the rising significance of crypto prediction markets for analyzing political tendencies.
