Polymarket is company of the year
I predict Polymarket will be the most important company to go mainstream in 2024.
Polymarket is a prediction market that allows users to bet on world events: politics, news, culture, tech.
It's been said that Polymarket is âthe next generation of newsâ. This is true, but with a caveat. Twitter is where the news happens. Polymarket is the 24/7 marketplace that predicts the news and sets the odds. So far, $350M have been bet on the presidential election. I think we'll hit $1B easily by November.
âEveryone [on Polymarket] seems a hell of a lot better informed,â someone tweeted this morning... Of course they are! Users are risking their own money. They have skin in the game. Previously, we looked to pollsters for the odds. In the future, I expect we'll look to Polymarket instead.
Polymarket is also significant because itâs doing more than any platform in years to legitimize crypto. When people realize that the most trustworthy source of future probabilities is powered by crypto -- and wouldnât be possible without it -- they will start to take crypto more seriously.
It should be noted that Polymarket isnât the first attempt at a decentralized crypto prediction market. There was Augur and Gnosis, and probably there were others. All failed. But given Polymarketâs recent $70M round of funding and user growth that would make any investorâs eyes pop out, it's hard to imagine Polymarket going anywhere any time soon.