AI-powered search engine Perplexity is collaborating with prediction marketplace Polymarket, which allows users to wager on actual events, to present news summaries of events.
Users will now see a summary of news linked to an event on Polymarket when they click on it, based on search results from Perplexity. To ask more questions, you can also use the search box.
Additionally, Polymarket is utilizing Perplexity’s Pages feature—which enables users to create shareable pages from search results—to create a column that will appear on Perplexity’s Discover page. According to Perplexity, it would look into more collaborations with outside parties to highlight content in its Discover area.
In order to display images in the responses, Perplexity will also utilize some data from Polymarket, such as election trends. Tako, an additional AI platform, will be used to create these images.
In an increasingly chaotic web, “Polymarket has emerged as a go-to place for people seeking high signal trusted information.” Shayne Coplan, the founder and CEO of Polymarket, emailed TechCrunch, “We see Perplexity as a company engaged in a similar mission, so investing in deepening our partnership makes perfect sense.”
This collaboration comes after Substack and Polymarket collaborated to enable writers to include prediction data from the prediction marketplace into their articles. Recently, Polymarket also introduced Oracle, a Substack newsletter of its own.
Perplexity will receive income from API calls made by customers who look at events and ask queries on the prediction marketplace. Polymarket will be a client of Perplexity’s AI search engine.
The Perplexity API is being used by an increasing number of developers, according to Dmitry Shevelenko, chief business officer, who spoke with TechCrunch about the company’s primary target market, which includes knowledge workers in workplace settings as well as consumers.
Since we are a customer-focused organization, the API business is not a top priority for us. Nevertheless, more than 25,000 developers are utilizing our API, and usage is continually rising. We have a special product that retrieves information from several websites,” Shevelenko remarked.
“Currently, we view API as a tool to help build the brand, not the end in and of itself.”
He pointed out that publishers, in addition to businesses, are utilizing Perplexity’s API to enable consumers to search articles on their platforms. Additional use cases include marketing tools, financial services seeking the most recent data, and banks want to conduct Know Your Customer (KYC) procedures.
News organizations have accused Perplexity of copying their content and scraping the internet by disobeying websites’ “robots.txt” files. Since then, the business has committed to prominently displaying citations and has formed partnerships with media sources via a revenue-sharing scheme for advertisements.
Shevelenko stated that a “double-digit percentage” of users click on the sources that are shown alongside search results on Perplexity, although he did not provide exact statistics.
Supported by the NEA, IVP, Sequoia, and Jeff Bezos, Perplexity most recently raised $63 million in March at a $1 billion value. The business was seeking to fund $250 million at a valuation of between $2.5 billion and $3 billion, according to a TechCrunch report one month later.