MetaMask has announced a collaboration with Polymarket to incorporate all the prediction platform’s markets within its service, which is expected to roll out later this year.
This integration will allow users to directly access Polymarket via their MetaMask wallets, enabling them to buy and sell shares on a variety of events, from sports matches to election outcomes.
Gal Eldar, MetaMask’s global product lead, stated that this partnership aligns with the company’s vision to transition from just a crypto wallet to a comprehensive gateway for democratized finance.
“Each new feature expands what users can do with their financial assets: trade, earn, invest, speculate, and diversify, all while maintaining full self-custody.”
The prediction markets feature is set to be available in many regions, but will not be accessible in the US, UK, France, Singapore, Poland, Thailand, Australia, Belgium, Taiwan, and Ontario, Canada.
These kinds of markets have garnered significant interest, especially surrounding the upcoming US election in November 2024, and have seen escalated adoption.
Wall Street’s interest is notable as well, with Polymarket recently securing a $2 billion investment from Intercontinental Exchange, valuing the platform at $9 billion.
Declining Trading Volumes
Despite the decline in trading volumes, Polymarket and Kalshi continue to dominate the sector, posting impressive figures of $1.43 billion and $2.74 billion in volumes respectively last September, breaking their previous records from November.
Eldar emphasized that prediction markets remain a crucial on-chain tool as they aim for truth-seeking outcomes.
“When incentives are aligned and participation is broad, markets become self-correcting systems that push us closer to reality. The deeper and more liquid they get, the faster they converge around the truth.”
Additional Features Introduced
In addition to the new prediction markets, MetaMask has also recently launched perpetual futures in partnership with Hyperliquid, as it aims to compete with centralized exchanges in this rapidly growing market.
Decentralized trading volumes have surged, totaling about $770 billion in the last month, highlighting the growing interest in such platforms.
MetaMask aims to provide users with a more streamlined experience similar to centralized exchanges while capitalizing on the security benefits of decentralized platforms and their offerings.
