Elon Musk’s X Partners With Polymarket, Bringing Crypto Prediction Markets Mainstream

Social media platform X, led by the world's richest man, Elon Musk, is partnering with Polymarket, a crypto-backed prediction market.

X announced on its platform that “we’re joining forces with Polymarket as our official prediction market partner,” but Musk has not commented on the partnership yet.

Polymarket followed up on the announcement and said, “The next information age won’t be driven by the 20th century’s media monoliths – it’ll be driven by markets. Our partnership with X marks a new chapter for truth on the internet.”

The move marks X’s first crypto-related integration since the platform removed NFT profile pictures in 2023, shortly after Musk took over.

Polymarket’s Rise

Polymarket, which launched in 2020, went relatively unnoticed until 2024, when volume on the market exploded, leading up to the 2024 U.S. Presidential Election. The platform generated record volumes in Q4 2024, hitting an all-time high of $1.1 billion in the last week of October.

Activity has calmed down since the election frenzy, but Polymarket is still doing more weekly volume in 2025 than it did on a monthly basis for all of 2023 and the first half of 2024.

In the week leading up to the election results, Polymarket recorded more volume in five days than it did through the entirety of 2023, while top traders cashed out as much as $47 million by betting correctly on election outcomes.

The most popular markets on Polymarket today mainly focus on playoff sports outcomes as the NBA Finals and Stanley Cup Finals continue to play out, but others still follow local government elections and geopolitical conflicts.

The NBA Championship market is currently the highest volume market on the platform, with $1.7 billion bet so far, and 75% of the participants favoring the Oklahoma City Thunder over the Indiana Pacers.