Polymarket Expands into Equities and Commodities with Pyth Price Feeds

Polymarket has expanded its offerings to include price-based contracts tied to equities, commodities, and exchange-traded funds (ETFs), leveraging Pyth Network's real-time price feeds as the resolution source for daily contracts. The new markets feature daily up-or-down and closing price contracts for major equity indices, commodities like gold and oil, and a selection of US-listed stocks, with outcomes settled automatically at the end of each trading session. The platform now offers contracts on more than a dozen US-listed stocks, including Tesla, Nvidia, and Apple, alongside commodities and equity indices. By utilizing Pyth as the resolution layer, Polymarket replaces manual or exchange-specific references with a standardized data source aggregated from trading firms and market makers. Zug, Switzerland-based Pyth Network also launched a data interface called Pyth Terminal, allowing users to track live price feeds and reference values used to settle markets on Polymarket. Traders can monitor a live 'price to beat' that updates continuously as markets fluctuate. Last week, Intercontinental Exchange, parent company of the New York Stock Exchange, announced a $600 million cash investment in Polymarket and plans to acquire up to an additional $40 million in shares from existing holders. This move is part of a broader multibillion-dollar commitment to the platform. Oracle networks, which provide off-chain data to blockchains, are increasingly being used in financial, government, and prediction-based applications. Pyth Network and Chainlink have been selected by US government agencies to publish economic data on-chain, including GDP and inflation metrics. The recent announcement caused the PYTH token to rise more than 70% in value, pushing its market capitalization past $1 billion. Oracle providers are playing a growing role in connecting crypto platforms to traditional financial markets. In January, Chainlink announced 24/5 price data for US equities and ETFs, and in February, Ondo Finance integrated Chainlink as the data provider for tokenized US equities on its Ondo Global Markets platform. Data from DeFiLlama indicates a highly concentrated oracle market, with Chainlink securing around 64% of total value secured, while Pyth Network and RedStone each hold approximately 5%.