Polymarket is entering into a new world as it signs a partnership with Parcl to bring real estate and housing prediction markets to life.
The duo will see Parcl’s daily housing prices indices brought into a new suite of real estate predictions markets on Polymarket. It’ll introduce housing-focused areas which aim to give traders and analysts a data-driven reference point for forecasting where home prices could head.
The markets will be listed on the prediction market platform, while Parcl will provide them with independent index data and settlement reference values.
Speaking on the introduction, the CMO of Polymarket Matthew Modabber said in a press release: “Prediction markets work best when the data is clear, and the outcome can be verified without debate.
“Parcl’s daily housing indices give us a strong foundation to launch housing markets that settle transparently and consistently. Real estate should be a first-class category in prediction markets, and this partnership is how we get there.”
To begin with, the initial markets will focus on major U.S. housing markets, but there is a roadmap to extend this coverage over time. The market templates will have questions tied to index movement across defined periods, like whether a city’s home price index finishes up or down over a month, quarter, or year.
Each market will reference a dedicated Parcl resolution page which will show the final settlement value, historical index context, and the methodology that was used to calculate the index.
In the announcement, the next steps are listed out as the plan is to roll out the first set of real estate prediction markets in phases. It will start with a curated list of high-liquidity cities and then will add additional metros and index-based market types based on demands.
The teams will also be collaborating on standardized market templates and tooling that make it easier to create markets with consistent terms, dates, and resolution references.
Featured Image: Via announcement on Parcl
