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Polymarket Becomes Elon Musk's X’s Official Prediction Market Partner

Polymarket Becomes Elon Musk's X’s Official Prediction Market Partner

On May 20th, just hours after a top Kalshi executive praised the deal about their settled partnership with Elon Musk’s artificial-intelligence firm xAI, the announcement was withdrawn without further explanation. The failed deal between Kalshi and X, and the fact that just a few days ago, on June 6th, Polymarket went public, claiming they are now the official prediction market partner of social media platform X, might hint at a larger fallout from the Trump-Musk public dispute.

X and Polymarket are planning to release a joint product that will utilize GrokAI to collect data from the X platform, analyze it, and create live insights in the form of real-life annotations on Polymarket’s prediction offerings. Both Polymarket’s and X’s CEOs reassured this claim, with Linda Yaccarino (X’s CEO) mentioning “a range of creative product integrations” in her statement, possibly hinting at more collaborative projects in the future.

Interestingly, despite being based in New York, Polymarket is technically not legal on U.S. soil. After settling with the CFTC in January 2022, Polymarket was obligated to ban access to its website for users in the United States. Why X has opted for a partnership with Polymarket, after abruptly tearing ties to Kalshi (a prediction market legal in the U.S.), remains unclear. Still, some sources speculate that it might be due to a recent public dispute between President Trump and Elon Musk. For those unaware, Donald Trump Jr. has publicly backed Kalshi in the past, even becoming their strategic advisor in January of this year.

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