Introduction to OutcomeMarket
On September 17, Wintermute unveiled its latest innovation: a smart contract for a new prediction market focused on the upcoming US presidential elections, named OutcomeMarket. This platform is set to launch in the coming week and will operate across multiple blockchain networks, including Ethereum (ETH), Base, and Arbitrum (ARB).
Key Features of OutcomeMarket
OutcomeMarket is poised to enhance liquidity, efficiency, and accessibility in prediction trading. By eliminating intermediaries and removing minting or transaction fees, the market promotes smooth participation across different blockchain platforms.
Multi-Chain Accessibility
Unlike traditional prediction markets that are usually restricted to a single chain, OutcomeMarket allows users to interact directly using their native blockchain environments. This feature eradicates the complexities associated with asset bridging.
Data Integrity with Chaos Labs
The platform will leverage the Edge Proofs Oracle from Chaos Labs to ensure accurate data delivery across its blockchain ecosystems. This oracle is instrumental in reducing risks associated with prediction markets by providing reliable and tamper-proof data feeds, which is crucial for maintaining trust within the market.
Omer Goldberg, CEO of Chaos Labs: “What sets our market and data integrity engine apart is the unique integration of advanced AI and LLMs with risk models. This combination delivers highly precise, tamper-proof data feeds while embedding real-time risk assessment into the protocol.”
Introduction of TRUMP and HARRIS Tokens
OutcomeMarket will introduce two new tokens, TRUMP and HARRIS, which can be traded on both decentralized finance (DeFi) applications and various centralized exchanges (CEXs) and decentralized exchanges (DEXs). Initial trading venues will include Bebop, WOO, and Backpack, with additional listings anticipated following the launch.
Evgeny Gaevoy, CEO of Wintermute: “There has been significant interest from both centralized and decentralized trading venues to list such prediction market contracts. However, no one had developed them in a permissionless manner and without imposing minting or transaction fees.”
The Growing Landscape of Prediction Markets
Wintermute’s initiative arrives amid a notable resurgence in prediction markets’ popularity, fueled by platforms such as Polymarket. The decentralized prediction market has gained substantial traction in recent months, especially with the ongoing 2024 US presidential election featuring former President Donald Trump and Vice President Kamala Harris, where bets have recently surged past the $1 billion mark.
This growth highlights a broader trend towards decentralized prediction markets, harnessing blockchain technology for improved transparency, security, and fairness. With its multi-chain approach, OutcomeMarket capitalizes on this momentum, delivering a more scalable and inclusive trading solution for users across a variety of blockchain systems.