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Wintermute to Launch New U.S. Election Prediction Market

The trading firm is taking on Polymarket and leveraging Chaos Labs’ Edge Proofs Oracle for data accuracy.
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Sep 17, 2024 • 1 min read

Trading firm Wintermute has developed a new smart contract for its multi-chain US election prediction market, now branded as OutcomeMarket, utilizing Chaos Labs’ Edge Proofs Oracle for data accuracy.

What's the Scoop?

  • Multi-Chain Support: OutcomeMarket is set to launch next week across Ethereum, Base, and Arbitrum.
  • Chaos Labs Integration: Wintermute and Chaos Labs integrated the Edge Proofs Oracle for tamper-proof, real-time data across all chains with advanced AI intending to boost market resilience.
  • TRUMP and HARRIS Tokens: The market will begin with TRUMP and HARRIS tokens, which can be traded and used in DeFi applications. The tokens will also be supported on trading platforms like Bebop, WOO, and Backpack.
  • DeFi Integrations: Wintermute has hinted at potential future DeFi integrations, including yield opportunities or leverage on user positions, expanding token utility.

Bankless Take:

Wintermute’s OutcomeMarket marks more traction for Chaos Labs' Edge Proofs Oracle, which recently came out of stealth. Edge is already securing over $30B in transaction volume and handling 90% of Solana’s daily perpetual volume through Jupiter Exchange. The collaboration could offer a significant boost to OutcomeMarket, particularly given the growing dissatisfaction with UMA, used by Polymarket, which has faced issues in resolving certain markets accurately. Edge Oracles claims it represents an innovation over existing models by relying on trusted, predefined sources like the Associated Press or CNN to resolve events.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

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