thedefiant.io
Self-custody crypto wallet MetaMask has added support for prediction marketplace Polymarket, which now powers MetaMask Prediction Markets, letting users bet on real-world events within the web3 wallet.
The integration, first teased in October, allows users to predict outcomes across sports, politics, crypto and culture without leaving MetaMask’s mobile app, the wallet’s team told The Defiant. Users can also earn MetaMask Rewards points for each Polymarket bet, receiving 2 points for every $1 traded.
The move comes just a day after Polymarket began its U.S. rollout, launching a mobile app and opening access for waitlisted users in the country.
Commenting on the integration, MetaMask’s senior director of product Mike Lwin said in commentary shared with The Defiant that using prediction markets “on mobile today is painful.”
The announcement shared with The Defiant also stated that the move makes MetaMask the “first self-custodial crypto wallet to offer prediction market access natively.”
Cost of Convenience
According to details shared with The Defiant, users can fund their accounts with any token on Ethereum, or compatible Layer 2 chains.
But unlike using Polymarket directly, which is free of charge, trades on MetaMask carry a 4% fee “to MetaMask and Polymarket.” Speaking with The Defiant, Ajay Mittal, VP of product strategy and monetization at MetaMask, said the company benchmarked its pricing “extensively against both prediction markets and the broader sports-betting industry.” According to Mittal, a flat fee model is “one of the clearest” and “most predictable” structures for users.
“This keeps pricing transparent and consistent regardless of the likelihood of the outcome. By contrast, many traditional prediction and sports-betting platforms charge a per-contract or per-order fee,” Mittal explained.
Mittal also clarified that the fee is shared equally between MetaMask and Polymarket in order "to support the combined experience.”
The launch comes amid a surge in prediction market activity. As The Defiant reported earlier this week, Polymarket hit a record $4.3 billion in spot volume in November, a nearly 5% month-over-month increase.