Prediction market Polymarket has acquired crypto payments startup Brama, The Block reported on March 18, citing Fortune.
The purchase price was not disclosed. The company said the acquisition will improve the Polymarket user experience.
Fortune said Brama would help attract capital to niche betting markets that lack liquidity.
Fortune said small bets, such as the outcome of a Spanish bowling match, struggle to secure enough liquidity, and Brama's DeFi experience could help draw risk-seeking investors.
A lack of liquidity can cause slippage, or price moves during execution, that can eat into profits. Polymarket is focused on high-liquidity markets such as major sports events or elections, but it plans to improve trading conditions in niche markets through the acquisition.
Chi-gyu Hwang
delight@d-today.co.kr