Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Wintermute’s first prediction market will feature TRUMP and HARRIS tokens

Wintermute’s first prediction market will feature TRUMP and HARRIS tokens

CryptopolitanCryptopolitan2024/09/17 16:00
By:By Nellius Irene

Share link:In this post: HFT company Wintermute will start its own prediction market operations next week. The first bet on the prediction market will be based on the US presidential elections. Evgeny Gaevoy, the CEO of Wintermute, said trading services offering the new tokens will choose how they treat US users.

Global HFT firm, Wintermute, will collaborate with Chaos Labs to launch their new prediction platform, Outcome Market. The platform’s first tokens will be focused on candidates Donald Trump and Kamala Harris, launching just six weeks before the US Presidential election.

The algorithmic trading firm Wintermute will join Polymarket in the crypto prediction market, launching its new Outcome Market in partnership with Chaos Labs.

Wintermute will use Chaos Labs’ edge proofs Oracle in the new tokens feature

The platform will have TRUMP and HARRIS tokens as its first offerings, betting on the outcome of the upcoming US Presidential election.

In a September 17 post , Wintermute announced it was on track to developing a permissionless smart contract for the new US presidential election prediction market.  The use of permissionless contact means any trading venue can offer the tokens without charging minting or transaction fees. 

The newly created market will also be accessible on Ethereum, Base and Arbitrum and will use Chaos Labs’ Edge Proofs Oracle to ensure accurate data transfer across chains.

According to Omer Goldberg, CEO of Chaos Labs, the firm has incorporated AI and LLMs into its market to allow for precise, tamper-resistant data feeds and real-time risk assessment within its protocol. He added that Edge’s design also guarantees smooth transmission of price, risk, and evidence of diverse information across ecosystems, bolstering trust and stability in prediction markets.  

See also Circle expands USDC to Brazil and Mexico, integrating with local banking systems

Wintermute’s CEO, Evgeny Gaevoy, commented :

Once launched, users can participate directly from their native blockchain ecosystems, removing barriers to entry and improving accessibility, making it easier and more efficient for everyone to get involved. The tokens will be usable in DeFi applications and listed on multiple trading venues, significantly expanding their utility and setting a new standard for how prediction markets operate.

– Evgeny Gaevoy

Trading venues Bebop, WOO X, and Backpack plan to have the new TRUMP and HARRIS tokens on their platforms.

Willy Chuang, COO of WOO X, even commented, citing the relevance of decentralized smart contracts and how excited their company is to support them. He added that by building a market for these tokens, they will “empower” their users to trade fairly.

CFTC intensifies scrutiny as Polymarket faces a ban on election betting

Polymarket’s prediction market stirred U.S. legislators, who argued that it operated an illegal, unregistered platform for trading contracts tied to real-world events. In 2022, Polymarket agreed to restrict its contract and token use in the US. However, the platform still operates outside US markets and has over 1 million wages in relation to the US election. 

In August 2024, the US Commodity Futures Trading Commission (CFTC) showed interest in banning prediction market tokens in the country. The CFTC issued an order to halt Kalshi, a prediction market regulated by the commission, from accepting bets on the U.S. presidential election. Although a court later overturned this order, allowing Kalshi to resume its operations, the situation took a turn when the court granted stays, which prevented the market from progressing with any election betting until the case was resolved.

See also Circle and Sony Block Solutions Labs collaborate to enable USDC on Soneium

According to CEO Gaevoy, the trading venues will decide how to deal with the U.S. markets. However, he noted that he is already aware that most if not all, do not accept U.S. crypto users.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Top Altcoins to Buy in 2025: BlockDAG, Solana, Cardano, and Avalanche Could See Strong Growth

Explore top altcoins to buy now like BlockDAG, Solana, Cardano, and Avalanche. See what makes them stand out and their potential in 2025.2. Solana’s Speed and Market Data Insights3. Cardano’s Smart Contract Strengths to Explore4. Avalanche (AVAX) Market Overview and Network CapabilitiesTop Altcoins to Buy in 2025: A Summary of Choices

Coinomedia2025/05/15 21:55
Top Altcoins to Buy in 2025: BlockDAG, Solana, Cardano, and Avalanche Could See Strong Growth

SUI’s Price Jump, Polkadot’s Bullish Signals, and the 2700% ROI Potential of Unstaked’s Stage 12 AI Crypto: Just $0.008997?

Witness the SUI price prediction climb, Polkadot form bullish patterns, and Unstaked AI presale surge with 2,700% ROI potential as the top crypto pick for 2025.Polkadot Eyes Breakout from Bullish WedgeUnstaked Turns AI From a Buzzword Into a Business EngineThe Path Ahead

Coinomedia2025/05/15 21:55
SUI’s Price Jump, Polkadot’s Bullish Signals, and the 2700% ROI Potential of Unstaked’s Stage 12 AI Crypto: Just $0.008997?

Next Crypto to Explode: BTFD Coin Raises $7M With 200% Bonus Still Live—Whales Are All In as $CAT and $SNEK SlideFind Out More:

$CAT and $SNEK dip, while BTFD Coin preps for liftoff—is this the next crypto to explode?BTFD Coin: The Referral Gold Rush Fuelling the Next Crypto to ExplodeSnek ($SNEK): Can This Cardano Creature Strike Back?Simon’s Cat ($CAT): Nine Lives, But Losing One Fast?Time’s Almost Up: BTFD Coin’s Presale Ends May 26

Coinomedia2025/05/15 21:55
Next Crypto to Explode: BTFD Coin Raises $7M With 200% Bonus Still Live—Whales Are All In as $CAT and $SNEK SlideFind Out More:

Jetcraft Now Accepts Bitcoin for Private Jet Payments

Private jet giant Jetcraft now accepts Bitcoin and crypto, signaling growing luxury adoption.Billionaires Are Buying Jets with BitcoinA Bold Shift in Luxury SpendingWhat This Means for Crypto Adoption

Coinomedia2025/05/15 21:55
Jetcraft Now Accepts Bitcoin for Private Jet Payments