Quick take:
Shayne Coplan, the CEO of Polymarket, described the partnership as a union of two truth-seeking platforms.
The announcement comes amid Musk’s public fallout with President Trump whose media company owns Truth Social.
The partnership comes amid a growing string of M&As and partnerships in the crypto space.
Crypto-powered predictions market platform, Polymarket has announced a partnership with Elon Musk’s xAI, the parent organisation of the X platform and Musk’s AI startup.
According to the announcement published on the X platform, Polymarket will become the official prediction market partner of xAI and the X platform.
Shayne Coplan, the CEO of Polymarket, described the partnership as a union of two truth-seeking platforms. “The two top truth-seeking apps on the internet are stronger together,” he added.
The announcement comes amid Musk’s public fallout with President Trump whose media company owns Truth Social. Musk and Trump over the last two days have engaged in a social media war of words amid the X Platform head’s criticism of U.S. government spending.
The partnership comes amid a growing string of M&As and partnerships in the crypto space. But not all have materialised as announced. Last month, Telegram announced a partnership with xAI, allowing the messenger app to integrate the xAI across its apps.
However, Musk played down the announcement hours later saying no such deal was in place.
Earlier in the month, Synthetic revealed it was acquisition options protocol Derive in a $27 million deal. The deal never materialised with two companies mutually agreeing to cancel the proposed acquisition later in the month.
xAI’s partnership with Polymarket also comes amid reports that X is one of the big techs looking to integrate stablecoins amid the push to build a crypto super app.
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