- Polymarket cooperates with Elon Musk’s Xai and X, the visibility of blockchain prediction market boost
- Increased use in sharp contrast with decreasing open interest and criticism in the midst of Trump -MUSK tensions
In an important step, Crypto -based predictions platform Polymarket has entered into a strategic partnership with Elon Musk’s Xai and the associated social media platform, X (formerly Twitter).
The collaboration, announced By polymarket CEO Shayne Coplan, Polymarket and the official market partner position for both X and XAI.
He said,
“The two best truth that apps are looking for on the internet are together stronger. Welcome to News 2.0.”
This alliance is a sign of the growing integration of blockchain-driven prediction tools within regular technical ecosystems.
Polymarket makes waves
Polymarket rose in the spotlight during the US Presidential Race, which rose as the go-to-to-platform for real-time political sentiment and probabilistic predictions.
In fact, in the month of May, Polymarket registered a trade volume of $ 1,103 billion – Marking The fourth consecutive increase of the month in the month.
Source: Dune Analytics
However, it is worth noting that this figure was still considerably lower than the peak of $ 2,577 billion in December 2023.
Similarly, while 145.7K new users arrived at the platform, the number of active traders fell to 277.7K, which extended a falling trend of four months.
Open interest, once increasing at $ 512 million during the highlight of the election season, soon drop Sharp to around $ 100 million. This is a sign of both the evolving user involvement of the platform and the cyclical character of its market activity.
As expected, the announcement of the partnership of Polymarket with Xai and X was not without controversy, who came on the heels of escalating tensions between American President Donald Trump and Elon Musk.
Community reactions
Although many have praised the step as a step in the direction of broader acceptance and innovation in prediction markets, critics have quickly questioned the motivations behind them.
For example, one user expressed x to assure About the alliance, indicate underlying political dynamics and potential prejudices that influence the direction of the platform.
“Wow now x is a gamble app.”
Such a mixed reception underlines the fragile intersection of technology, finance and politics, especially at a time when public trust and transparency are paramount.