Polymarket, a prediction marketplace that allows users to wager on real-world events, has partnered with Perplexity, an AI-powered search engine, to provide news summaries.
When consumers click on an event on Polymarket, they will now see a summary of event-related news based on Perplexity search results. There is also a search bar where you can ask other questions.
Polymarket is also developing a column using Perplexity's Pages feature (which allows users to create sharable pages from search results) that will appear on Perplexity's Discover page. Perplexity stated that it will explore additional third-party collaborations to include content on its Discover section.
Perplexity will also use Polymarket data, such as election statistics, to include visualizations in the responses. These images will be created with another AI platform, Tako.
"Polymarket has become a go-to site for those seeking high-signal, trustworthy information on an increasingly noisy web. We see Perplexity as a company with a similar objective, so investing in expanding our cooperation makes perfect sense," Shayne Coplan, Polymarket's founder and CEO, told TechCrunch via email.
This cooperation follows a similar one with Polymarket, in which Substack allowed writers to integrate forecast data from the prediction marketplace in their pieces. Polymarket also recently introduced its own Substack newsletter, Oracle.
Polymarket will be an API customer for Perplexity, and the AI search engine will earn money from API calls made by users searching for events and asking questions on the prediction marketplace.
Perplexity's chief business officer, Dmitry Shevelenko, told TechCrunch that, while the company's primary target audience is consumers and knowledge workers in enterprise settings, the Perplexity API is increasingly used by developers.
"The API business is not a priority for us because we are a consumer-oriented firm. Still, API usage is increasing, with over 25,000 developers accessing our API. We have a unique solution that gathers information from many internet sources," Shevelenko stated.
"The way we think about API right now is that it's a means to grow the brand, but not the end."
He mentioned that, in addition to corporations, publishers use Perplexity's API to allow people to search for articles on their platforms. Other use cases include banks who want to execute Know Your Customer (KYC) processes, marketing tools, and financial services that need up-to-date data.
News organizations have chastised Perplexity for plagiarizing their work and scraping the internet by disobeying "robots.txt" rules on websites. Since then, the business has committed to prominently display citations, as well as to partner with media sources through an ad revenue-sharing program.
Shevelenko could not provide specifics about how many people click on the sources presented alongside search results on Perplexity, but he did say it is a "double-digit percentage."
Perplexity, which is backed by NEA, IVP, Sequoia, and Jeff Bezos, just raised $63 million at a $1 billion value in March. A month later, TechCrunch claimed that the business was trying to raise $250 million with a valuation of $2.5 billion to $3 billion.