Wintermute, a well-known algorithmic trading firm, has revealed plans to launch OutcomeMarket, a decentralized prediction market platform focused on the 2024 U.S. presidential election. This platform will feature Ethereum-based tokens linked to candidates Donald Trump and Kamala Harris, offering an alternative to other platforms like Polymarket.
Set to launch next week, OutcomeMarket will allow users to participate in prediction markets across Ethereum and its layer-2 networks, such as Base and Arbitrum, without the need for bridging assets between chains. The platform operates through permissionless smart contracts, enabling any trading venue to list its tokens without minting or transaction fees.
Wintermute CEO Evgeny Gaevoy emphasized the goal of creating a more efficient and accessible market by removing entry barriers. Users will be able to use TRUMP and HARRIS tokens to predict election outcomes and engage with decentralized finance (DeFi) applications on multiple exchanges.
The platform is powered by Chaos Labs’ Edge Proofs Oracle, ensuring data integrity across different blockchain networks. Major trading venues, including Bebop, WOO X, and Backpack, have already committed to listing OutcomeMarket tokens.
Political prediction markets have grown in popularity, with Wintermute’s launch coming at a time of increased interest in both political speculation and decentralized finance. However, platforms like Polymarket have faced regulatory challenges, reflecting the careful balance needed to operate in this space. OutcomeMarket aims to innovate by avoiding the fees and restrictions found in many traditional prediction markets.