Wintermute and Chaos Labs to Launch Outcome Market

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by Giorgi Kostiuk

2 years ago

Made with AI

  1. Partnership between Wintermute and Chaos Labs
  2. Features of Outcome Market
  3. Regulatory Scrutiny on Prediction Markets


    4. The algorithmic trading firm Wintermute, in partnership with Chaos Labs, is launching a new prediction market, Outcome Market, with tokens focused on candidates Donald Trump and Kamala Harris, six weeks before the US presidential election.

    Partnership between Wintermute and Chaos Labs

    The algorithmic trading firm Wintermute collaborates with Chaos Labs to launch the new Outcome Market. The platform's first tokens will be TRUMP and HARRIS, focused on the outcome of the upcoming US presidential election.

    Features of Outcome Market

    Outcome Market will utilize Chaos Labs’ Edge Proofs Oracle to ensure accurate data transfer. The oracle provides tamper-resistant, real-time data feeds and risk assessments. According to Omer Goldberg, CEO of Chaos Labs, AI and LLM integration allows seamless transmission of prices and risks across ecosystems, enhancing trust and stability in prediction markets.

    Once launched, users can participate directly from their native blockchain ecosystems, removing barriers to entry and improving accessibility, making it easier and more efficient for everyone to get involved. The tokens will be usable in DeFi applications and listed on multiple trading venues, significantly expanding their utility and setting a new standard for how prediction markets operate.Evgeny Gaevoy

    Regulatory Scrutiny on Prediction Markets

    The US Commodity Futures Trading Commission (CFTC) is intensifying its scrutiny of prediction markets such as Polymarket. In 2022, Polymarket agreed to restrict its contract and token usage in the US. In August 2024, the CFTC expressed interest in banning prediction market tokens in the country. Although the court allowed Kalshi to resume operations following an initial ban, the CFTC's future actions remain uncertain.

    Prediction markets are once again under regulatory scrutiny, presenting unique challenges and opportunities for firms like Wintermute and Chaos Labs. The focus remains on providing accurate and transparent data, promising to enhance trust in new prediction technologies.

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