The post Polymarket Taps Chainlink to Settle Price Bets appeared on BitcoinEthereumNews.com. Reportedly raising funding at a $3 billion valuation, Polymarket is working with Chainlink following its previous governance and oracle dilemmas. Polymarket, the largest onchain prediction market, has unveiled a partnership with top oracle provider Chainlink to settle markets related to asset prices. Chainlink’s data standard will be integrated into Polymarket’s resolution process in order to provide “near-instant” settlement and ensure accuracy standards. Currently, Polymarket resolutions can take hours depending on the circumstances. “Polymarket’s decision to integrate Chainlink’s proven oracle infrastructure is a pivotal milestone that greatly enhances how prediction markets are created and settled,” said Sergey Nazarov, the co-founder of Chainlink. “When market outcomes are resolved by high-quality data and tamper-proof computation from oracle networks, prediction markets evolve into reliable, real-time signals the world can trust.” Polymarket is also reportedly in the process of raising new funding, with at least one investor offering a term sheet that values the prediction market at “as much as $10 billion.” The move comes two months after Polymarket’s controversial resolution of the “Will President Zelenskyy Wear a Suit” market, where fashion experts opined that Ukrainian President Zelenskyy had worn an outfit that technically met the definition of a suit. However, Polymarket’s governance vote, decided via UMA, collectively decided that the market should resolve to “No” (not a suit), leaving those on the wrong side of the trade fuming. UMA will continue to be used for settling market disputes, while Chainlink’s oracles facilitate fast settlements for straightforward markets backed by data. Polymarket first launched in 2020, but activity surged in 2024 ahead of the U.S. presidential election, reaching an all-time high monthly volume of $2.5 billion in October 2024. While the platform’s volumes are down compared to its peak months, it still processes roughly $1 billion of volume per month, more than it did in… The post Polymarket Taps Chainlink to Settle Price Bets appeared on BitcoinEthereumNews.com. Reportedly raising funding at a $3 billion valuation, Polymarket is working with Chainlink following its previous governance and oracle dilemmas. Polymarket, the largest onchain prediction market, has unveiled a partnership with top oracle provider Chainlink to settle markets related to asset prices. Chainlink’s data standard will be integrated into Polymarket’s resolution process in order to provide “near-instant” settlement and ensure accuracy standards. Currently, Polymarket resolutions can take hours depending on the circumstances. “Polymarket’s decision to integrate Chainlink’s proven oracle infrastructure is a pivotal milestone that greatly enhances how prediction markets are created and settled,” said Sergey Nazarov, the co-founder of Chainlink. “When market outcomes are resolved by high-quality data and tamper-proof computation from oracle networks, prediction markets evolve into reliable, real-time signals the world can trust.” Polymarket is also reportedly in the process of raising new funding, with at least one investor offering a term sheet that values the prediction market at “as much as $10 billion.” The move comes two months after Polymarket’s controversial resolution of the “Will President Zelenskyy Wear a Suit” market, where fashion experts opined that Ukrainian President Zelenskyy had worn an outfit that technically met the definition of a suit. However, Polymarket’s governance vote, decided via UMA, collectively decided that the market should resolve to “No” (not a suit), leaving those on the wrong side of the trade fuming. UMA will continue to be used for settling market disputes, while Chainlink’s oracles facilitate fast settlements for straightforward markets backed by data. Polymarket first launched in 2020, but activity surged in 2024 ahead of the U.S. presidential election, reaching an all-time high monthly volume of $2.5 billion in October 2024. While the platform’s volumes are down compared to its peak months, it still processes roughly $1 billion of volume per month, more than it did in…

                                                                               Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week.                     Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more