Self-custodial crypto wallet MetaMask has added support for predictive marketplace Polymarket. Polymarket is now powering MetaMask Prediction Markets, allowing users to bet on real-world events within their Web3 wallet.
The integration, first introduced in October, will allow users to predict outcomes across sports, politics, cryptocurrencies and culture without leaving MetaMask's mobile app, Wallet's team told The Defiant. Users can also earn MetaMask Rewards points for every bet they make on Polymarket, receiving 2 points for every $1 traded.
The move comes just one day after Polymarket began its U.S. rollout, launching its mobile app and opening access to waitlisted users in the country.
Mike Lwin, senior director of products at MetaMask, commented on the integration in comments shared with The Defiant, saying, “Using prediction markets on mobile today is a pain.”
The announcement shared with The Defiant also states that the move will make MetaMask “the first self-custodial cryptocurrency wallet that natively provides access to prediction markets.”
cost of convenience
According to details shared with The Defiant, users can fund their accounts using any token on Ethereum, or any compatible layer 2 chain.
However, unlike using Polymarket directly, which is free, trading on MetaMask comes with a 4% fee “on MetaMask and Polymarket.” Ajay Mittal, MetaMask's vice president of product strategy and monetization, told The Defiant that the company's pricing is benchmarked “extensively against both prediction markets and the broader sports betting industry.” According to Mittal, the flat-fee model is one of the “clearest” and “most predictable” structures for users.
“This ensures transparency and consistency in pricing regardless of the likely outcome. In contrast, many traditional prediction and sports betting platforms charge per contract or per order,” Mittal explained.
Mittal also revealed that fees will be split equally between Metamask and Polymarket to “support a unified experience.”
The announcement comes amid a surge in prediction market activity. As The Defiant reported earlier this week, Polymarket hit a record $4.3 billion in spot trading volume in November, an increase of nearly 5% month over month.
