Polymarket launches short-duration gold and silver 'Up or Down' markets, its first outside crypto
Polymarket now offers gold and silver price markets on its US and international platforms, with windows as short as 15 minutes. WTI and Brent crude oil markets are planned next.
GamblingCryptoSource: CoinDesk
Prediction market Polymarket has added gold and silver "Up or Down" contracts across its US and international platforms. According to the report, these are the first short-duration markets the platform has offered outside the crypto sector.
The contracts ask users to predict whether the price of gold or silver will close higher or lower than where it opened in a given trading window. On Polymarket US, the windows run 15 minutes, one hour or one day. The international platform will offer only the 15-minute markets.
Settlement relies on Chainlink price data taken at the close of each window. Neither the US nor the international platform will offer trading on Saturdays.
Polymarket also plans to bring WTI and Brent crude oil markets to the platform next, extending its commodities-focused prediction offerings beyond metals.
The launch comes as prediction market operators broaden their product ranges beyond event outcomes and crypto price questions. Short-window contracts tied to traditional commodity benchmarks bring the products closer to financial markets, using an oracle network that is itself part of the blockchain ecosystem to determine results.
The source did not give details on volumes, fees or regulatory treatment of the new commodity contracts.
Based on reporting by CoinDesk.