Prediction Market News
XRPPrediction market platform Polymarket announced Tuesday it is partnering with data analytics company Palantir Technologies to build a surveillance system for its XRPsportsbetting markets. The two companies will use the Vergence AI engine, developed by Palantir and intelligence systems provider TWG AI through a joint venture formed last year.
The system is built to monitor trades, screen out restricted users, detect manipulation, identify insider activity in real time, and produce documentation for compliance and enforcement purposes. XRPPolymarket CEO Shayne Coplan said the partnership allows the company to apply "world-class analytics and monitoring to sports markets while building tools that can help leagues and teams maintain confidence in the games themselves."
Palantir was co-founded in 2003 by Peter Thiel, Alex Karp, and others. The firm builds data integration and analytics tools used by the U.S. military and large enterprises. Thiel's venture firm, Founders Fund, led a $45 million Series B investment in Polymarket in 2024. Palantir CEO Alex Karp said in a statement that the initiative sets a new standard for sports market integrity.
The partnership comes as Polymarket faces regulatory pressure in the United States. Rep. Ritchie Torres (D-NY) sponsored the Public Integrity in Financial Prediction Markets Act earlier this year.
Rival platform Kalshi has publicized its own enforcement measures in recent weeks. It named a former video editor for YouTube creator XRPMrBeast and a California political candidate as early targets of its compliance actions. Kalshi CEO Tarek Mansour has separately spotlighted Poirot, a proprietary surveillance system tied to 200 completed investigations. Sports markets drove 69% of Kalshi's wagers and 40% of Polymarket's wagers last week, according to a Dune dashboard.
Both platforms are in early-stage fundraising discussions that value each at around $20 billion, the Wall Street Journal reported Saturday. The U.S. Commodity Futures Trading Commission filed a friend-of-the-court brief asserting exclusive jurisdiction over futures-based gaming contracts. DraftKings Predictions has meanwhile expanded to 38 states, including California, Florida, Georgia, and Texas, where traditional sports wagering is not permitted.
Polymarket is also working to re-enter the U.S. market after acquiring a CFTC-regulated platform and has opened a waitlist for users. For TWG AI, the Polymarket deal carries added relevance because its parent company holds investments in sports franchises such as the Los Angeles Dodgers and Lakers. XRPCrypto