Crypto wallet MetaMask will tap Polymarket later this year to expand its offerings to prediction markets, aiming to move into the booming sector that has caught Wall Street’s attention.
The integration will make Polymarket directly available through MetaMask’s wallet, allowing users to buy and sell “stocks” to bet on real-world events, from elections and sports to a company’s earnings results.
Gal Eldar, MetaMask’s global product manager, 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-custody,” he said.
Prediction markets on MetaMask built by Consensys are deployed everywhere except the US, UK, France, Singapore, Poland, Thailand, Australia, Belgium, Taiwan and Ontario, Canada.
Prediction markets have become one of the hottest use cases in crypto, with adoption significantly accelerating around the time of the November 2024 US elections.
Wall Street is also paying attention, with Polymarket receiving a $2 billion investment on Tuesday from New York Stock Exchange parent Intercontinental Exchange, which values the platform at $9 billion.
Forecast market volumes are cool
Trading volumes on prediction markets have cooled from their peaks, but the two largest prediction market platforms, Polymarket and Kalshi, recorded volume of $1.43 billion and $2.74 billion respectively in September, surpassing their previous combined record from last November, according to DefiLlama data.
Despite the slowdown in trading volume, Eldar said prediction markets remain one of the most powerful on-chain primitives because they are “fundamentally focused on finding the truth.”
“When incentives are aligned and participation is broad, markets become self-correcting systems that bring us closer to reality. The deeper and more liquid they become, the faster they converge on the truth.”
MetaMask integrates Hyperliquid for criminal trading
This comes as MetaMask also launched perpetual futures via an integration with Hyperliquid on Wednesday, aiming to capture market share away from centralized exchanges in the booming perps market.
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Decentralized exchange volume has exploded recently, amounting to around $770 billion over the past month, with Hyperliquid leading the way.
However, these numbers still pale in comparison to what centralized exchanges such as Binance generate, in part because they offer a simplified user experience.
MetaMask hopes that its new feature enhancements will provide its users with a more centralized exchange experience while still enjoying the security benefits that decentralized platforms offer.
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