Bloomberg integrates Polymarket data to Terminal

Monetary knowledge and information service Bloomberg is incorporating election knowledge from crypto playing 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 will permit Bloomberg Terminal customers to view Polymarket’s real-time U.S. presidential election odds, in addition to knowledge from different prediction markets and polls.

Because the world’s main monetary knowledge platform with roughly 350,000 subscribers worldwide, Bloomberg’s inclusion of Polymarket knowledge represents a significant 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 develop into a preferred platform for monitoring US election odds. The protocol permits customers to guess on totally different outcomes of occasions 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 end result of the November 2024 presidential election.

Present Polymarket odds present Republican candidate Donald Trump with a slight lead of fifty%, in comparison with 48% for Democrat Kamala Harris. The platform’s bettors precisely predicted the departure of Robert F. Kennedy Jr. out of the presidential race in August, with odds rising from 8% to greater than 90% forward of his withdrawal announcement.

Earlier this month, Polymarket partnered with Perplexity AI to supply AI-powered occasion summaries and predictions on outcomes like elections and market developments. Crypto Briefing additionally mentioned how Polymarket has seen a surge in buying and selling because the unpredictable 2024 US presidential election approached, pushing bets above $300 million. In a latest protection, Ethereum co-founder Vitalik Buterin mentioned Polymarket and different prediction market platforms present a “social epistemic software” for a large consumer base.

As Polymarket faces competitors from rivals equivalent to Solana-based Drift Protocol’s BET platform, Bloomberg’s integration underlines the rising significance of crypto prediction markets for analyzing political developments.