Polymarket, a decentralized prediction market platform, has launched a service for trading perpetual futures on cryptocurrencies and traditional financial assets. According to Crypto Briefing, the new platform will operate under the name 'Polymarket Perps'.
Polymarket Perps allows users to open positions on the price movements of various assets using futures contracts with no set expiration date. The platform supports nine different assets, ranging from cryptocurrencies and commodities to stock indices and shares of private companies.
Supported assets include Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). Additionally, the platform allows trading of precious metals like gold and silver, as well as WTI crude oil. Users can also open positions on the S&P 500 and Nasdaq 100 indices.
One of the distinguishing features of Polymarket Perps is the ability to use leverage. The platform allows for leverage of up to 20x in trades. This feature enables investors to open larger positions with smaller amounts of capital but can also lead to rapid losses if the price moves against them.
The platform also includes shares of SpaceX among its supported assets. In this way, Polymarket aims to offer various asset classes under one roof, rather than being solely a crypto-focused derivatives trading platform.
Polymarket views its new service as a step towards expanding its business into the financial derivatives space beyond prediction markets. Perpetual futures contracts are products that attract significant investor interest, especially in crypto markets, due to their high trading volume and leverage.
*This is not investment advice.
end-content
