• Polymarket announces a partnership with Elon Musk's X, becoming its "official prediction market partner."
• Users can soon place bets on elections, sports, and more within X posts and livestreams.
• The partnership boosted Polygon’s price, as Polymarket operates on the Ethereum-based Polygon network.

Polymarket is entering a partnership with X, Elon Musk’s social media platform. The partnership doesn’t have a lot of details yet, but it’s already caused a market impact.

Polygon’s price jumped significantly after this news.

Polymarket Partners with X

Polymarket, a major online prediction market, hasn’t had a lot of previous interactions with X. However, its landmark new alliance with Elon Musk’s X is a major market development. Promising to become the social network’s “official prediction market partner,” Polymarket teased at future gains.

“Combining Polymarket’s accurate, unbiased, and real-time prediction market probabilities with Grok’s analysis and 𝕏’s real time insights will enable us to provide contextualized, data-driven insights to millions of Polymarket users around the world instantaneously. We are proud to work with 𝕏 as the official prediction market partner and to continue our fruitful collaboration,” claimed Shayne Coplan, founder and CEO of Polymarket.

Details are still under wraps, but both firms said Polymarket odds and widgets will soon appear inside X posts and livestreams, letting users stake on everything from US elections to sports finals with a few taps. Polymarket was built on Polygon, an Ethereum-based L2 scaling solution, and its token spiked immediately after the announcement.

Whatever specific plans Polymarket and X have for their continued partnership, it has the potential to significantly change the crypto ecosystem.