Worm

Worm is a permissionless prediction market platform built natively on Solana. It allows any user to trade on the outcomes of real-world events and to launch their own markets without approval or listing fees. The platform describes itself as "a permissionless prediction layer on Solana, powered by AI." Its beta launched on October 15, 2025.

Markets on Worm are structured as binary outcome contracts: users buy "Yes" or "No" shares denominated in USDC. When a market resolves, shares on the correct side redeem at 1 USDC each and shares on the losing side redeem at zero. Prices reflect the collective estimate of event probability and shift in real time as trading activity changes the balance of demand. New markets launch in a pre-sale phase governed by a bonding curve that sets the initial price at 50/50 odds. This mechanism rewards early participants who take positions before heavier trading begins. Once the market moves into full trading, Worm runs an order book model rather than a constant-product automated market maker, allowing tighter spreads and more accurate price formation. Limit order providers who narrow bid-ask spreads earn daily rewards from the platform.

A core differentiator is the leveraged markets product. On standard prediction markets, outcomes that are already heavily favored — say, an event priced at 80% probability — offer limited upside for believers in the consensus view. Worm addresses this by offering 1x, 2x, or 3x amplified positions on a curated set of markets with deep liquidity. The platform supplies the additional capital, and users receive a multiplied return if the outcome is correct. Worm aggregates its own order book with those of major external prediction market platforms to find the best available entry price. Leveraged positions support take-profit and stop-loss orders and are subject to liquidation if the position moves against the user past a defined threshold.

Anyone can launch a prediction market on Worm at no cost. The platform uses AI to assist with drafting resolution criteria, identifying appropriate data sources, and structuring the market rules. The AI also applies validation logic — markets concerning individual deaths or events deemed excessively trivial are rejected. Duplicate markets are permitted when multiple users independently create markets on the same topic. Creators earn 2.5% of the total trading volume generated on any market they launch. The platform retains half of that fee. There are no upfront creation fees or permissioning requirements.

Worm uses the UMA decentralized oracle network for settlement verification. Once a market accumulates 200 USDC in trading volume, UMA validates the result against predefined data feeds after the event concludes. In the undisputed case, winning shares are redeemable at 1 USDC and losing shares at zero. If the result is contested, the dispute goes to a vote among UMA token holders. Markets move to an "under review" status during settlement, pausing trading until resolution is confirmed.

The platform hosts markets across politics (elections, appointments, policy), sports (soccer, tennis, esports), finance (Federal Reserve decisions, IPOs), crypto (price movements, protocol events), tech, weather, and a general category labeled "WTF." Worm runs entirely on Solana, leveraging the chain throughput and low transaction costs for order book operations and settlement. Funds are held in smart contracts rather than by a centralized custodian. The platform settles in USDC and operates without a native token. For developers and AI agents, Worm provides a REST API with authentication and pagination, a Python SDK, and an MCP server for programmatic market interaction.

In December 2025, Worm raised 4.5 million dollars in a pre-seed round led by 6th Man Ventures, with participation from Alliance DAO, Solana Ventures, Borderless Capital, and Advancit Capital. Individual investors included Solana co-founder Anatoly Yakovenko, Pudgy Penguins CEO Luca Netz, Mert Mumtaz, Anil Lulla, and Nadav Hollander.