- Polymarket has partnered with AI search engine Perplexity to enhance user experience.
- Perplexity's AI integration will provide summaries for odds and news before users decide to wager.
- Polymarket's latest partnership comes after its largest single-day loss in open interest worth $20 million.
Polymarket partnered with the Artificial Intelligence search engine Perplexity on Monday to enable news summaries on events for users, thereby enhancing the overall experience on the prediction market. The announcement follows a drop in Polymarket's open interest, which fell 28% last week.
Polymarket to integrate Perplexity as US political odds see surprising turn
Prediction market Polymarket has secured a collaboration with AI-powered search engine Perplexity. The partnership will allow Perplexity's 10 million users access summaries on prediction events based on search outcomes.
The partnership aims to provide users with a more interactive experience through a question box for inquiries and a column allowing users to share result pages. Both platforms will benefit from the partnership, as Perplexity will also use Polymarket's data for visuals when providing users with answers.
"Polymarket has become a go-to destination for people looking to access high signal trusted information on an increasingly noisy web. We see Perplexity as a company engaged in a similar mission, and so investing in deepening our partnership makes perfect sense," Polymarket CEO Shayne Coplan told TechCrunch in an email.
Polymarket recently hit a milestone with over $1 billion generated from trading volumes. However, it experienced a drop in its open interest last week after recording its highest single-day drawdown of $20 million. This may have resulted from the wider market decline last week, which may have propelled high liquidations among bettors, forcing many to close their positions.
Meanwhile, Polymarket data revealed that the presidential election odds have turned tables, with Kamala Harris leading against her Republican counterpart, Donald Trump, 52% to 45% earlier on Monday.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Polymarket secures partnership with Perplexity amid open interest decline
Polymarket partnered with the AI search engine Perplexity on Monday to enable news summaries on events for users, enhancing the overall experience on the prediction market. The announcement follows a drop in Polymarket's open interest.
Ethereum poised for 20% rally following buying pressure from ETF investors but faces key trendline hurdle
Ethereum (ETH) is up 1% on Monday and is looking set for a 20% rally following buying momentum from traditional investors across ETH ETFs. However, it faces potential bearish pressure from a likely dump by an old whale and resistance around a key trendline.
Crypto market could be set for rebound following net inflows, Marathon's heavy Bitcoin buyback plan
Crypto investment products turned green last week after seeing net inflows of $176 million. Meanwhile, Marathon Digital (MARA) plans to add to its Bitcoin holdings with convertible note offerings worth $250 million as the crypto market recovery looks imminent.
Dogecoin faces key hurdles as it attempts to stage a recovery
Dogecoin (DOGE) is up 0.5% on Monday as it attempts to stage a comeback from last week's market decline. In the past week, DOGE rallied 25% amid signs of recovery visible across its on-chain metrics. However, the technical side shows that key indicators could hamper DOGE's road to recovery.
Bitcoin: Can BTC bounce back from recent market crash?
Bitcoin (BTC) trades above $60,000 on Friday after a 7.2% decline and a dip below the $50,000 level earlier in the week, following a test of its daily support level at around $49,900 on Monday.