Polymarket Launches 15-Minute Gold and Silver Markets With Chainlink (LINK) as Official Oracle
Polymarket has launched 15-minute up-or-down gold and silver markets settled with Chainlink price data, and named Chainlink its official oracle for fast markets.
Prediction market platform @Polymarket has launched 15-minute up-or-down markets on gold and silver, with oracle network @chainlink, the project behind $LINK, supplying the prices used to settle each contract.
The companies expanded their partnership at Link:NYC, where Polymarket named Chainlink its official oracle partner for these fast markets. According to the joint press release, the move builds on more than $11 billion in trading volume already powered by Chainlink around Polymarket's 5- and 15-minute crypto price markets.
How the Gold and Silver Markets Work
Users bet on whether the spot price of each metal will rise or fall over a 15-minute window. DigitalToday reported that outcomes are settled using the spot prices at the start and end of the window, and that US takers pay a fee of roughly $1.74 per 100 contracts traded at 50 cents.
The release states that Chainlink provides Polymarket with pricing data through Data Streams and the Chainlink Runtime Environment. Securities.io noted that Data Streams supply low-latency, timestamped and verifiable oracle reports, while Chainlink Automation handles automated onchain settlement. Polymarket's market makers and algorithmic traders can also access the same Data Streams through self-serve access.
Johann Eid, chief business officer at Chainlink Labs, said in the release that the company's high-speed pricing data enables Polymarket to resolve these markets with the accuracy and efficiency users expect.
What Comes Next
The rollout is the first step in taking the short-duration format beyond crypto. More commodities are planned, with equities and foreign exchange to follow. Fortune reported that neither company has given a date for when 15-minute contracts on stocks and currencies will go live.
The format has drawn scrutiny. Fortune cited a recent Bloomberg report describing such markets as essentially a coin flip that traders have called highly addictive. Fortune also noted that the Bitcoin versions proved popular enough for Polymarket to add five-minute contracts, and that the new gold and silver contracts are also available on rival platform Kalshi.
For Chainlink, the deal extends its role as a data provider from crypto assets into traditional markets, with prices for precious metals now feeding a high-volume consumer product.
Sources
Polymarket and Chainlink press release via PRNewswire
Fortune: Polymarket launches 15-minute Up or Down contracts for gold and silver
