Polymarket, which attracted headlines during the 2024 U.S. election, is a blockchain protocol that founded by Shayne Coplan and launched in 2020. It offers users access to various predictions on real world events. Traders can bet on any topic on the decentralized prediction market with cryptocurrency.

Meanwhile, X has increasingly become a top platform for news, with users lauding it’s transformation since Musk’s $44 billion acquisition in October 2022. The formerly Twitter company rebranded to X in July 2023 and was recently acquired by Musk’s artificial intelligence company xAI in a dea valued at $33 billion.

“The next information age won’t be driven by the 20th century’s media monoliths — it’ll be driven by markets,” Polymarket said on X. Our partnership with X marks a new chapter for truth on the internet. The future of news is optimized for truth, rooted in transparency, and anchored in reality.”

In October 2024, ahead of the November election, Musk publicly advocated for Polymarket as a better election forecaster. He posted his argument on X, noting that the crypto-based prediction market would best predict the outcome of the U.S. presidential contest compared to traditional polls.

According to Musk, prediction markets such as Polymarket are platforms that have users with “skin in the game”. 

“Trump now leading Kamala by 3% in betting markets. More accurate than polls, as actual money is on the line,” Musk posted at the time.

Polymarket went on to correctly predict Donald Trump as the next U.S. president – with the current president beating Democrat Kamala Harris by a landside. A French trader made $21 million profit off the prediction.

While both X and Polymarket have not provided more details of their partnership, commentary across social media is that this could be a major boost for the predictions marketplace.