Polymarket plans to launch a token but prioritizes launching the US app. It received a $2 billion investment from ICE, valuing the company at $10 billion. Prediction markets Polymarket and Kalshi are gaining mainstream popularity, attracting non-crypto natives. Polymarket is in discussions for additional funding to potentially reach a $15 billion valuation.
Polymarket signed deals with sports organizations like the NHL and sports book operators, including a partnership with DraftKings. DraftKings lacks infrastructure for onchain collateral, so Polymarket will provide clearinghouse services. Kalshi is also looking to raise $300 million to expand into 140 countries.
Prediction markets, like Polymarket, saw a surge in trading volume during the 2024 US elections, growing over 565% in Q3. Executives believe prediction markets are more accurate than experts or polling, democratizing access to information. This sector is considered a public good that provides valuable insights.
Read more at Cointelegraph
Bitcoin’s price surged to a new all-time high of $63,000, fueled by increased institutional adoption and positive sentiment. The cryptocurrency’s market capitalization also hit a record high of over $1.1 trillion, cementing its status as a mainstream asset. Experts predict further growth as demand continues to rise.
Ethereum, the second-largest cryptocurrency, reached a new peak of $2,500, driven by the ongoing trend of decentralized finance (DeFi) and non-fungible tokens (NFTs). The network’s transaction volume has also increased significantly, showcasing its utility beyond just being a store of value. Analysts believe Ethereum has more room for growth in the coming months.
Tesla announced that it now accepts Bitcoin as a form of payment for its vehicles, making it one of the first major companies to embrace cryptocurrency for transactions. CEO Elon Musk expressed his support for digital currencies, further boosting Bitcoin’s credibility and mainstream adoption. This move is expected to attract more investors to the crypto market.
The European Central Bank (ECB) revealed plans to launch a digital euro within the next five years, aiming to modernize the region’s payment systems and provide an alternative to cash. The digital currency would be accessible to individuals and businesses, potentially revolutionizing the way transactions are conducted in the Eurozone. The ECB is currently seeking feedback from the public on the initiative.: Token Will eventually Come, but the US App Takes Priority