Bloomberg integrates Polymarket data into Terminal

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Financial data and news service Bloomberg is incorporating election odds data from crypto betting platform Polymarket into its Terminal service, signaling growing institutional interest in blockchain-based prediction markets.

Michael McDonough, Bloomberg’s chief financial products economist, announced the integration on August 29. The move allows Bloomberg Terminal users to see Polymarket odds for the US presidential election in real time alongside data from other prediction markets and polling services.

As the world’s leading financial data platform with approximately 350,000 subscribers globally, Bloomberg’s inclusion of Polymarket data is a significant milestone for crypto prediction markets. The terminal controls about a third of the market share of financial data services.

Polymarket, built on the Polygon blockchain network, has emerged as a popular platform for tracking US election quotas. The protocol allows users to bet on various event outcomes using smart contracts for transparent trading and payments. August trading volume on Polymarket is approaching $450 million, with nearly $760 million betting on the outcome of the November 2024 presidential election.

Current polls from Polymarket show Republican nominee Donald Trump with a slight lead at 50 percent to 48 percent for Democrat Kamala Harris. The platform’s bettors accurately predicted Robert F. Kennedy Jr.’s exit from the presidential race in August, with odds rising from 8% to over 90% before his withdrawal announcement.

Earlier this month, Polymarket partnered with Perplexity AI to provide AI-powered summaries of events and predictions on outcomes such as elections and market trends. Crypto Briefing also described how Polymarket saw a spike in trading as the unpredictable 2024 US presidential election approached, pushing bets to over $300 million. In a recent defense, Ethereum co-founder Vitalik Buterin said that Polymarket and other prediction market platforms provide a “social epistemic tool” for a mass user base.

As Polymarket faces competition from rivals like BET’s Solana-based platform Drift Protocol, Bloomberg’s integration underscores the growing importance of crypto prediction markets for analyzing political trends.

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