Polymarket integrates the Pyth oracle and launches Tesla and Gold contracts

Polymarket has announced the launch of daily contracts that track publicly listed U.S. stocks, major U.S. stock indexes, and commodities, using real-time price data from the blockchain oracle provider Pyth Network as the basis for automatic settlement. The new market covers more than ten U.S. stocks such as Tesla (Tesla) and Nvidia (Nvidia), as well as commodities like gold and oil and major stock indexes; contract results are automatically reset and settled at the end of each trading day.

New Market Framework: How Pyth Network Replaces Manual Settlement

This expansion introduces two contract formats: daily up/down contracts (predict whether the underlying asset will close up or down that day) and closing price contracts (predict that the underlying asset will close within a specific price range). All contract outcomes are automatically settled based on the real-time quotes provided by Pyth Network, and are reset after each trading day ends.

Pyth Network aggregates standardized price quotes from trading firms and market makers to replace the previous settlement mechanism that relied on manual judgment or exchange-specific reference prices. This removes the human intervention step and improves the verifiability and consistency of settlement.

Pyth is headquartered in Zug, Switzerland, and it also simultaneously launched a data interface called Pyth Terminal. This enables traders to monitor the dynamic updates of the “Reference Price” in real time, and to view the specific reference values used for Polymarket settlement.

Coverage of the New Market Underlyings

（Source: Polymarket）

According to a Polymarket announcement, the new markets being launched this time cover three major categories:

Publicly Listed U.S. Stocks: More than twelve, including technology leaders such as Tesla (Tesla), Nvidia (Nvidia), and Apple (Apple)

Commodities: Daily up/down and closing price contracts for major commodities such as gold and oil

Stock Indexes: Daily trend contracts for major U.S. indexes

Oracle Market Landscape and ICE’s Investment Background

Polymarket’s integration of Pyth reflects how oracle networks are rapidly extending from crypto-native applications into traditional finance infrastructure. According to DeFiLlama data, the oracle market is highly concentrated: Chainlink accounts for about 64% of total value secured (Total Value Secured), while Pyth Network and RedStone each account for only about 5%.

On the regulatory front, Chainlink and Pyth have been selected by U.S. government agencies, which publish official economic statistics on-chain, including GDP and inflation indicators. After this news was released, the PYTH token’s single-day price increase exceeded 70%, and its market cap surpassed $1 billion. In January this year, Chainlink also announced a 24/5 real-time pricing service for U.S. stocks and ETFs to crypto platforms. Ondo Finance subsequently integrated Chainlink as the data source for its tokenized U.S. stock platform.

On the capital side, last week ICE completed a $600 million cash investment in Polymarket and plans to acquire up to an additional $40 million worth of shares from existing shareholders. This is part of ICE’s broader financial commitment to Polymarket.

Frequently Asked Questions

What platform is Polymarket?

Polymarket is a blockchain-based decentralized prediction market platform that allows users to trade the outcomes of real-world events. It covers categories such as political elections, sporting events, trends in financial markets, and weather. Contract settlement depends on whether specific conditions are met within the specified time.

What role does Pyth Network play in Polymarket?

As an oracle provider, Pyth Network supplies real-time standardized price data to Polymarket’s stock and commodities markets, replacing the previous manual or exchange-specific settlement methods. This ensures that contract outcomes are automatically completed and can be verified. Pyth Terminal also provides traders with a real-time reference price lookup interface.

Why does ICE invest in Polymarket?

ICE, the parent company of the NYSE, completed a $600 million cash investment in Polymarket, which the market interprets as a strategic move by traditional financial institutions to back the long-term growth potential of prediction markets. ICE also plans to acquire up to an additional $40 million in shares, indicating that its financial involvement goes beyond the scope of typical passive investments.