Polymarket Five-Minute Bets Capture ‘Addictive’ Crypto Craze

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Options that once lasted months now sit alongside ones that last weeks, or even a single day.Faster markets and better technology have made it possible to wager on shorter and shorter stretches of market action. Now, crypto traders are compressing that time even further — making bets that barely outlast a coffee break.Most Read from BloombergTwo LPG Ships Sail Through Hormuz to Shortage-Hit IndiaSecond Dynacom Oil Tanker Passes Hormuz as Other Owners Hold BackMamdani Wants New York Estate Tax Threshold Cut 90% to $750,000Key UAE Port Suspends Oil Loadings After Drone Attack, FireVenezuela Officials in Talks to Send Detained Maduro Ally to USOn prediction markets platform Polymarket, you can bet on where Bitcoin will be five or 15 minutes from now. The rules are as simple as a coin flip: pick whether Bitcoin will be higher or lower when the clock runs out. Win or lose, it resets. Then do it all over again.In little over a month, five-minute bets have become some of the busiest on Polymarket’s website, with as much as $60 million changing hands every day, according to user-compiled data on Dune Analytics. With each new shortening of the clock, turnover has surged and the advantage has tilted further toward participants with the fastest systems. Polymarket’s daily crypto markets — tracking whether Bitcoin will be above or below a certain price by the end of the day — pull in far less volume, often netting less than $1 million a day.That speed has drawn waves of automated trading bots, run by both retail bettors running simple programs and more sophisticated participants with systems built for speed. While the volumes are small compared to the tens of billions of dollars traded daily on crypto exchanges, prediction market bettors are glued to their screens.Jon Lourie, founder of prediction markets research firm Polyfactual, said it was election betting that first caught his eye when he began trading on Polymarket. But when he found out that those contracts could take months to resolve, he pivoted to sports markets, before landing on 15-minute crypto bets. The speed at which such trades conclude became “addictive,” he said.“It’s like people just want to get to the resolution time faster and faster and faster,” Lourie said. “I wouldn’t be surprised if we see crazy things, like one-minute markets or something like that, in the near future.”For professional traders, stacking your portfolio with bets that take days or weeks to expire can come with operational costs that add up quickly. Five-minute crypto markets could be a more cost-efficient way to hedge against risk held elsewhere, said Jake Brukhman, chief executive officer of crypto venture firm CoinFund.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,699.38 +67.19 (+1.01%)Dow 3046,946.41 +387.94 (+0.83%)Nasdaq22,374.18 +268.82 (+1.22%)Russell 20002,503.29 +23.24 (+0.94%)VIX23.51 -3.68 (-13.53%)Gold5,008.20 +6.00 (+0.12%)Trending tickersADBE Adobe Inc. 251.86 +2.54 (+1.02%)BTC-USD Bitcoin USD 74,685.89 +2,696.73 (+3.75%)XYZ Block, Inc. 59.85 +0.06 (+0.10%)ULTA Ulta Beauty, Inc. 516.74 -18.98 (-3.54%)RBRK Rubrik, Inc. 51.67 -1.76 (-3.29%)PortfolioSign in to access your portfolioSign inTop gainersNSA National Storage Affiliates Trust 40.23 +9.29 (+30.03%)NBIS Nebius Group N.V. 129.85 +16.90 (+14.96%)BMNR Bitmine Immersion Technologies, Inc. 23.39 +2.85 (+13.88%)BCRX BioCryst Pharmaceuticals, Inc. 9.30 +1.08 (+13.14%)NSA-PA National Storage Affiliates Trust 22.72 +2.41 (+11.87%)Top losersTXG 10x Genomics, Inc. 16.69 -2.10 (-11.18%)VNET VNET Group, Inc. 9.53 -0.98 (-9.32%)PAYP PayPay Corporation 19.35 -1.79 (-8.47%)FSLY Fastly, Inc. 22.79 -1.79 (-7.28%)KLAR Klarna Group plc 14.91 -1.00 (-6.29%)Most activeNVDA NVIDIA Corporation 183.22 +2.97 (+1.65%)INTC Intel Corporation 45.76 -0.01 (-0.02%)ONDS Ondas Inc. 10.53 +0.37 (+3.64%)PLUG Plug Power Inc. 2.2400 +0.0900 (+4.19%)AAL American Airlines Group Inc. 10.49 +0.19 (+1.84%)Top economic eventsEarnings eventsMy earnings eventsEarnings events