Cryptocurrency wallet MetaMask aims to use Polymarket to expand its prediction market offering later this year, tapping into a fast-growing sector that is attracting Wall Street’s attention.
This integration will make Polymarket available directly through MetaMask’s wallet, allowing users to buy and sell “stocks” to bet on real-world events, from elections and sports to corporate earnings.
Gal Elder, global product leader at MetaMask, told Cointelegraph that the partnership is part of the company’s goal to evolve from a crypto wallet to a gateway to global democratized finance.
“Each new feature expands what users can do with their financial assets: trade, earn, invest, speculate and diversify while maintaining complete self-control,” he said.
The MetaMask prediction market built by ConsenSys operates in every country except the US, UK, France, Singapore, Poland, Thailand, Australia, Belgium, Taiwan, and Ontario, Canada.
Prediction markets have become one of the most popular use cases for cryptocurrencies, with adoption accelerating significantly around the time of the US elections in November 2024.
Wall Street has also taken notice, with Polymarket on Tuesday receiving a $2 billion investment from New York Stock Exchange parent company Intercontinental Exchange, which valued the platform at $9 billion.
Prediction market volume is cool
Although prediction market trading volume is down from its highs, the two largest prediction market platforms, Polymarket and Karshi, had trading volumes of $1.43 billion and $2.74 billion, respectively, in September, exceeding their previous total trading volume in November of last year, according to data from DefiLlama.
Elder said that despite declining trading volumes, prediction markets remain one of the most powerful on-chain primitives because they are “fundamentally aimed at truth-seeking.”
“When incentives are aligned and participants are widespread, markets become self-correcting systems that bring us closer to reality. The deeper and more liquid the market is, the faster it converges on the truth.”
MetaMask integrates Hyperliquid for personal trading
This comes after MetaMask also launched perpetual futures trading on Wednesday through an integration with Hyperliquid, in an effort to gain market share from centralized exchanges in the fast-growing PERP market.
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Decentralized PERP trading volume has exploded recently, reaching nearly $770 billion last month, with HyperLiquid leading the way.
However, these numbers still pale in comparison to what centralized exchanges like Binance produce, in part because they offer a simplified user experience.
With its new and improved features, MetaMask hopes to provide users with a more centralized exchange-like experience while enjoying the security benefits that a decentralized platform offers.
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