In a significant move, Prediction marketplace Polymarket has partnered with AI-powered search engine Perplexity to display news summaries of events. This collaboration will enable users to access high-quality information on real-world events and provide valuable insights for prediction purposes.
Polymarket’s Partnership with Perplexity
When users click on an event on Polymarket, they will now see a summary of news related to the event based on search results from Perplexity. This integration aims to provide users with a comprehensive understanding of the topic, making it easier for them to make informed predictions.
In addition to displaying news summaries, there’s also a search box that allows users to ask more questions and receive relevant answers. This feature will enable users to explore various aspects of an event and gain a deeper understanding of its implications.
Perplexity’s Pages Feature
Polymarket is creating a column using Perplexity’s Pages feature, which enables users to create sharable pages from search results. This page will be displayed on Perplexity’s Discover page, providing users with easy access to relevant information and facilitating the discovery of new topics.
Perplexity has expressed its intention to explore more third-party partnerships to feature content on its Discover section. This move demonstrates the company’s commitment to providing high-quality content and expanding its reach.
Integration of Polymarket Data
Perplexity will also use data from Polymarket, such as election trends, to show visuals in the answers. These visuals will be generated using another AI platform, Tako. This integration highlights the potential of combining multiple AI platforms to provide users with a comprehensive understanding of complex topics.
Commentary from Shayne Coplan and Dmitry Shevelenko
Shayne Coplan, founder and CEO of Polymarket, commented on the partnership, stating: "Polymarket has become a go-to destination for people looking to access high signal trusted information on an increasingly noisy web. We see Perplexity as a company engaged in a similar mission, and so investing in deepening our partnership makes perfect sense."
Dmitry Shevelenko, chief business officer at Perplexity, shared his thoughts on the partnership, saying: "The way we think about API right now is that it’s a means to grow the brand, but not the end." He emphasized that apart from enterprises, publishers are using Perplexity’s API to let users search articles on their platforms.
Perplexity’s API Business
Perplexity has revealed that its API business is growing, with over 25,000 developers using its API. Shevelenko noted that while the company is primarily targeting consumers and knowledge workers in enterprise settings, the API usage is increasing rapidly.
The revenue generated from API calls made by users looking at events and asking questions on the prediction marketplace will contribute to Perplexity’s growth. This partnership highlights the potential of AI-powered search engines to provide valuable insights and high-quality information for various applications.
Challenges Faced by Perplexity
Perplexity has faced criticism from news outlets for plagiarizing their work and scraping the web by ignoring ‘robots.txt’ instructions on websites. However, the company has since promised to display citations prominently and has partnered with media outlets through an ad revenue-sharing program.
Shevelenko acknowledged that while the number of users clicking on sources displayed alongside search results is in "double-digit percentage," the company is committed to improving this metric.
Financial Backing
Perplexity, backed by NEA, IVP, Sequoia, and Jeff Bezos, last raised $63 million at a valuation of $1 billion in March. A month later, TechCrunch reported that the startup was looking to raise $250 million in funding.
This significant investment highlights the potential of AI-powered search engines like Perplexity to revolutionize the way we access information and make predictions.
Conclusion
The partnership between Polymarket and Perplexity demonstrates the growing importance of AI-powered search engines in providing high-quality information and insights for various applications. As the demand for accurate and comprehensive data continues to rise, companies like Perplexity are poised to play a significant role in shaping the future of information access.
By combining multiple AI platforms and leveraging user-generated content, these companies can provide users with a deeper understanding of complex topics and enable more informed decision-making.
