A giant in the making? After attracting considerable investment, the predictive betting platform Polymarket plans to launch a token.
Polymarket prepares to launch a token
The rumors were swirling, and now they’ve been confirmed. Polymarket will indeed launch a POLY token, according to the company’s CMO Matthew Modaber. Speaking on the Degenz Live podcast, he said that the launch would take place after the company’s return to the United States:
There will be a token. There will be an airdrop.
The priority is therefore to regain a foothold in the US, after having been sidelined in recent years. This is a significant potential market for the company, which performed best during the last US elections:
For now, our main priority is to launch the app in the United States and make a big splash. Once we have secured the launch and development of the American app, we will focus on the token.
The craze for prediction markets shows no sign of abating
Polymarket acquired a licensed US company earlier this year to facilitate its return to US soil. Polymarket is expected to launch very soon.
Matthew Modaber emphasized that the launch of a cryptocurrency would be done in a thoughtful manner to ensure its sustainability. He also cited the Hyperliquid (HYPE) project as an example:
Teams like Hyperliquid, who have really thought through their project in depth, will be around to stay.
The hype surrounding prediction markets—and Polymarket in particular—is growing. The company could see its value increase tenfold following significant fundraising. Its CEO, Shayne Coplan, became the youngest self-made billionaire after completing a $2 billion fundraising round.
