Overview
- Myriad's prediction market will utilize Chainlink as its sole oracle system for the 2026 FIFA World Cup match betting.
- This integration builds on Myriad's current implementation of the Chainlink Runtime Environment, which also supports its cryptocurrency price markets.
- Recently, Myriad secured a significant funding round, attracting investors such as MoonPay Ventures, Auros, EVG, Verda Ventures, and Fundstrat co-founder Tom Lee.
The prediction market platform Myriad has announced that it will employ Chainlink as the exclusive oracle infrastructure for its betting markets related to the 2026 FIFA World Cup, streamlining the resolution and settlement processes for these markets.
This decision enhances Myriad's prior usage of the Chainlink Runtime Environment (CRE), which is already in place for managing cryptocurrency price markets. CRE is set to facilitate the resolution and settlement of bets during the tournament, replacing the slower, manual processes that some prediction markets currently use.
"The World Cup represents the pinnacle of sports, and it’s precisely the type of event Myriad was designed for," stated Ilan Hazan, co-founder and COO of Myriad, who emphasized that traders seek trustworthy outcomes immediately when the game begins.
Hazan elaborated that the partnership with Chainlink will allow for rapid market settlements and user payments, thus providing Myriad with the capability to convert first-time users into repeat participants during this major global sporting event.
William Reilly, Head of Strategic Initiatives at Chainlink Labs, remarked, "By integrating Chainlink, Myriad's prediction markets for the 2026 FIFA World Cup will offer users precise resolutions, swift settlements, and immediate payments." He noted that the secure auditability offered by Chainlink’s blockchain-based oracles will assist Myriad in minimizing resolution disputes while catering to soccer fans globally.
Additionally, Myriad is hosting a $100,000 trading competition focused on World Cup betting, where the top three traders will earn prizes of $20,000, $10,000, and $5,000, respectively, with an additional $10,000 distributed among other participants on the leaderboard. Leading makers can earn from a weekly pool of $5,000 in rewards based on their trading volume during the competition, with the leaderboard refreshed weekly.
Prediction markets allow users to trade shares linked to the outcomes of future events, with prices fluctuating between $0 and $1 to reflect the implied probabilities. This sector has seen significant growth over the past two years, with platforms like Polymarket and Kalshi reaching multi-billion-dollar valuations.
The World Cup betting initiative follows a productive period for Myriad. In March, the platform completed a significant seed funding round, supported by investors including MoonPay Ventures, Auros, EVG, Verda Ventures, and Fundstrat co-founder Tom Lee, alongside previous backers like ConsenSys and HashKey Capital. This funding round came after Myriad’s launch on the BNB Chain and the introduction of automated markets designed for short timeframes, as the platform aims to achieve its goal of "embedding Myriad as a protocol."
Disclosure
Myriad is a subsidiary of Dastan, the parent company of Decrypt.