Metamask has provided support for Polymarket markets, enabling trading activities related to the outcomes of real-world events.
The support provides a feature for funding betting balances across various blockchain networks compatible with the Ethereum Virtual Machine (EVM) with a single touch.
The growth of Polymarket markets is accelerating as its valuation approaches $15 billion.
The MetaMask wallet - the most widely used Ethereum Blockchain wallet - is directly moving to penetrate prediction markets after announcing a collaboration that allows the use of Polymarket through it, enabling users to bet on event outcomes using their wallets.
Gabriela Helfet from Consensys - one of the wallet developers - announced that: 'You can now bet on the outcomes of future events directly from inside the wallet', adding that users will earn MetaMask Rewards points for every bet they place.
MetaMask is transforming into a new gateway for Polymarket markets with instant funding for balances at the touch of a button.
The new collaboration provides a fast track for exploring Polymarket betting markets, allowing users to fund their accounts through the 'one-touch funding' feature using any of the blockchain currencies compatible with the Ethereum Virtual Machine (EVM), deepening the links between traditional crypto wallets and decentralized betting platforms, making MetaMask a gateway not only to Web3 applications but also to speculation activities on real-world event outcomes at the same time.
It is noted that Polymarket has gained significant popularity over the past year, driven by increased interest during the 2024 U.S. elections, and the platform has made a strong return to the U.S. market following support from U.S. President Donald Trump for the crypto sector, creating a more flexible regulatory environment.
Reports indicate that the company is now aiming for a valuation of $15 billion, following a strategic investment of $2 billion from Intercontinental Exchange, the parent company of the New York Stock Exchange (NYSE).
This move comes as MetaMask wallet developers work to expand its capabilities beyond the Ethereum blockchain; in October, Consensys launched accounts that support multiple blockchain networks, both compatible with the Ethereum Virtual Machine (EVM) and those that are not, including the Solana Blockchain.
The wallet issuer is also preparing to launch its own currency - MetaMask (MASK) - at a time when the parent company Consensys is gearing up for a potential Initial Public Offering (IPO). Meanwhile, Polymarket is hiring an internal market-making team that trades against users, a controversial feature adopted by Kalshi that has sparked criticism and lawsuits, and reports indicate that the company has reached out to traders - including sports bettors - to join the new team according to sources who declined to be named as the plan remains confidential.
The value of prediction markets exceeds $13 billion in unprecedented activity.
Prediction markets recorded unprecedented trading volumes reaching $13 billion despite a general cooling in the crypto markets, attracting major players from the financial and technology sectors, such as Fanatics, Coinbase, and MetaMask, all of which have either launched or updated their platforms to support speculation on real-world events.
In this context, YZi Labs - the investment company of Binance founder Changpeng Zhao 'CZ' - has intensified its activity in this sector, with the Opinion platform - backed by YZi - emerging as one of the biggest market surprises; it was launched on the Binance blockchain (BNB Chain) in October and achieved a weekly trading volume of approximately $1.5 billion in its first month, briefly surpassing established platforms like Kalshi and Polymarket.
At the same time, Kalshi achieved a major media milestone after signing a partnership with CNN news group to be its official partner for prediction markets, alongside completing a funding round of $1 billion that raised its valuation to $11 billion.
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