Glossary
Polymarket
The largest crypto prediction market — order-book DEX for binary outcome contracts (elections, sports, crypto events) settled in USDC via UMA's optimistic oracle.
Polymarket, launched in 2020 on Polygon, lets users buy "Yes" or "No" shares on event outcomes priced 0–1 USD; correct shares pay out at 1 USDC, losers at 0. Market resolution is handled by UMA's optimistic oracle — a proposed answer is posted, anyone can dispute it within a window, disputes go to a token-holder vote.
The platform became a cultural focal point during the 2024 US presidential election cycle, with billions in volume on individual contracts. It remains the canonical example of crypto prediction markets at scale.