Wintermute, a prominent crypto trading firm and market maker, has announced its entry into the on-chain prediction market with the launch of OutcomeMarket, a decentralized betting platform. The platform, developed in collaboration with Chaos Labs, will initially focus on the 2024 U.S. presidential elections.
Key Features of OutcomeMarket
OutcomeMarket will introduce two specific tokens—TRUMP and HARRIS—representing the Republican and Democratic U.S. presidential candidates. These tokens will be the basis for bets on the election outcome. To ensure accurate pricing and risk management, the platform will leverage Oracle technology provided by Chaos Labs.
The platform will launch on major blockchain networks, including Ethereum, Coinbase’s Base, and the layer-2 solution Arbitrum. This integration into established blockchain ecosystems is intended to enhance trading accessibility and user experience.
Expanding On-Chain Prediction Markets
The prediction markets have been a growing sector within decentralized finance (DeFi), with platforms like Polymarket leading the charge. Wintermute’s entrance into this space signals increased competition, and its use of innovative Oracle technology from Chaos Labs may give it an edge. By operating across Ethereum, Base, and Arbitrum, OutcomeMarket aims to attract a broad range of participants and integrate deeply within the DeFi ecosystem.
This development is expected to further democratize access to prediction markets while offering new opportunities for decentralized betting on major political events.
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