Cryptocurrency exchange Based announced a partnership with prediction market operator Polymarket last week. The deal connects Based’s mobile-first platform with Polymarket’s contract trading system. Based made the announcement on X without sharing financial terms.
Polymarket confirmed the partnership through its own social media post. But the prediction market operator didn’t provide details about how the integration works.
The two companies already had some connection. Polymarket recently launched contracts asking users to bet on the potential value of a Based token one day after a hypothetical launch.
Why This Partnership Expands Prediction Market Access
Based users can now trade prediction contracts directly through their existing accounts. The integration works with Hyperliquid, a cryptocurrency that Based supports.
“Utilising Polymarket’s deep liquidity and robust settlement, we carve out a new market segment for our users to trade,” Based said in its announcement.
Users don’t need separate accounts anymore. They can move crypto funds between their Based accounts and Polymarket without leaving the platform. This removes friction from the trading process.
Based is also putting up 2 million Based Gold tokens each ‘epoch’ for users who trade on prediction markets. This creates direct financial incentives for Based customers to try Polymarket’s contracts.
What the Integration Actually Delivers
The partnership gives Based users access to Polymarket’s full range of prediction contracts. These cover everything from elections to market movements.
Fund transfers happen directly between platforms. Users can shift money from their Based wallet to their Polymarket account instantly. The process works both ways.
Based Gold rewards go to active traders each epoch period. The company hasn’t specified what timeframe constitutes an epoch or how rewards get distributed among users.
Polymarket has always accepted cryptocurrency for its contracts. This fits naturally with Based’s existing infrastructure and user base.
How This Fits Polymarket’s US Market Strategy
Polymarket has been trying to re-enter the US market for months. The company acquired CFTC-certified designated contract market QCEX earlier this year. That acquisition should’ve opened the door to US operations.
It hasn’t happened yet. Some analysts think the recent US Government shutdown delayed regulatory approvals. Polymarket even runs contracts asking “What day will the Government Shutdown end?” and “Will Polymarket US go live in 2025?”
The second question shows 93% odds for a 2025 launch at time of writing.
The company has signed several US-based partnerships recently, including one with PrizePicks. But none have resulted in direct US market access yet.
Google Finance recently added both Kalshi and Polymarket data to its platform. That suggests growing mainstream acceptance of prediction markets, even as Polymarket waits for its US regulatory clearance.
