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Polymarket lets users buy and sell shares of potential event
outcomes, with every trade matched peer-to-peer through smart
contracts. The company, which was founded in 2020, has been
sought out by people interested in expressing their opinions on
current events, politics, business moves, culture and sports.
Shayne Coplan, founder and CEO of Polymarket, said in a
statement on Tuesday that the deal is a ”major step in bringing
prediction markets into the financial mainstream.”
Tokenization is the process of turning real-world assets into
digital tokens. It uses blockchain technology that powers
cryptocurrencies to create digital tokens as stand-ins for
things like bonds, real estate or even fractional ownership of a
piece of art and that can be traded like crypto by virtually
anyone, anywhere at any time.
Advocates say tokenization is the next leap forward in crypto
and can help break down walls that have advantaged the wealthy
and make trading cheaper, more transparent and more accessible
for everyday investors.
But critics say tokenization threatens to undermine a century’s
worth of securities law and investor protections that have made
the U.S. financial system the envy of the world.
Interest in tokenization has gotten a boost thanks to the
election of President Donald Trump, who has made enacting more
crypto-friendly regulations a top priority of his administration
and signed a new law regulating stablecoins.
Shares of Intercontinental Exchange rose about 1 % in morning
trading.
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