Bitcoin News Today: Bitcoin Bolsters Polymarket's Prediction Market Arsenal

Polymarket, a leading crypto-native prediction market platform, has introduced Bitcoin (BTC) deposits to diversify its funding options as the cryptocurrency approaches record highs. The feature was announced on October 6, 2025, via X, with the post: "Bitcoin deposits. Now live." This expansion aligns with Bitcoin's recent surge to an all-time high above $126,000, which has intensified activity in crypto marketsThe Block - [Polymarket rolls out bitcoin deposits to expand funding options]^[1].

The timing of the deposit feature coincides with heightened trader optimism about Bitcoin's future performance. On Polymarket's contract betting on Bitcoin's price in October, the highest probability is assigned to a $130,000 peak before November 1. Historical data from CoinGlass shows Bitcoin has averaged a 79% increase in Q4 since 2013, while analysts from JPMorgan and Standard Chartered predict a potential year-end price range of $165,000–$200,000The Block - [Polymarket rolls out bitcoin deposits to expand funding options]^[1].

Polymarket already supports deposits in a range of tokens across Ethereum, Polygon, Base, Arbitrum, and Solana, including USDC, USDT, DAI, and ETH. The platform's native USDC payouts ensure liquidity for users, with correct outcome shares resolving to $1.00 in USDC. This expansion to Bitcoin adds a major asset class for participants, enabling bets on events ranging from political elections to economic outcomesThe Block - [Polymarket rolls out bitcoin deposits to expand funding options]^[1].

The move follows Polymarket's reported $200 million funding round at a $1 billion valuation, led by Peter Thiel's Founders Fund. The company also secured a CFTC no-action letter in September, allowing it to operate in the U.S. after previous enforcement actions in 2022. This regulatory clarity positions Polymarket to compete with regulated rivals like Kalshi, which recently surpassed it in global trading volumeCoinedition - [Polymarket Adds Bitcoin Deposits as $1 B Valuation Nears]^[2].

Polymarket's user base has grown significantly, with over 1.2 million traders and 21,000 active markets. During the 2024 U.S. presidential election, trading volumes exceeded $2.5 billion, highlighting the platform's role in shaping market sentiment. The integration of Chainlink oracles for price-focused bets and partnerships with platforms like Elon Musk's X further underscore its strategic growthCoinedition - [Polymarket Adds Bitcoin Deposits as $1 B Valuation Nears]^[2].

---