Key Takeaways:

• Polymarket selected Chainalysis to deploy a first-of-its-kind onchain solution for monitoring trading activity.
• The 2024 partnership introduces bespoke anomaly models to detect insider trading patterns on public blockchains.
• Polymarket aims to set a new 100% transparent benchmark for integrity across global decentralized finance.

Polymarket Sets New Transparency Standards With Chainalysis

In a release shared with Bitcoin.com News on Thursday, the New York-based blockchain intelligence company Chainalysis said it will provide a comprehensive suite of tools designed to enforce Polymarket’s Market Integrity Rules across its decentralized finance platform.

By operating entirely onchain, Polymarket ensures that every trade, position, and settlement is recorded on a public ledger, providing a level of transparency traditional finance cannot match. The new agreement spans multiple Chainalysis product lines, including investigative tools that produce blockchain-verified evidence for potential engagement with law enforcement and regulatory inquiries.

At the core of the partnership is a bespoke anomaly detection model built on Chainalysis Data Solutions, specifically designed to identify patterns consistent with insider knowledge. This move expands Polymarket’s existing multi-layered monitoring system, which was already designed to catch potential violations of the platform’s strict Terms of Use.

The partnership signals a proactive approach to detecting fraud, as the technology allows the platform to report suspicious activity to regulators with credible, immutable data. Polymarket founder and CEO Shayne Coplan noted that the platform was built onchain because transparency matters in creating a trusted source of truth for global events.

“Polymarket was built onchain because transparency matters, and our platform shows what markets can look like when trades are open, traceable, and accountable by design,” Coplan remarked.