Polymarket plans to originate its have native crypto token, but seemingly now now not till subsequent one year, sources accustomed to the matter told Decrypt.
The originate of the Polymarket token would put together a $2 billion investment in the prediction markets trade from Original York Stock Alternate owner Intercontinental Alternate, presented earlier this week, which valued the firm at $9 billion. It might well in point of fact maybe maybe well also put together the firm’s impending reentry into the U.S. market after being successfully banned by the CFTC in 2022.
Polymarket doesn’t thought to originate its token till it has regained a foothold in the U.S. market, in the interim dominated by competing prediction market Kalshi, sources told Decrypt.
Polymarket CEO Shayne Coplan reputedly teased a drawing near near token earlier this week in a put up on X, posting a “POLY” ticker alongside Bitcoin, Ethereum, Solana, and BNB, reigniting hypothesis. Rumors of a Polymarket token were swirling for properly over a one year, though the firm has but to publicly hiss its plans. Polymarket has also but to publicly comment on what the utility of such a token would be for its users once it be launched, though it has hinted at “rewards and drops” for honest users.
Polymarket did now not straight away acknowledge to Decrypt’s quiz for comment for this story.
$BTC$ETH$BNB$SOL$POLY 🤔 https://t.co/HmMobU6nBh
— Shayne Coplan 🦅 (@shayne_coplan) October 8, 2025
The prediction market trade has boomed in 2025. Over the final week, Polymarket, Kalshi, Limitless, and Myriad enjoy collectively generated over $1.4 billion in procuring and selling volume on predictions on every little thing from sports actions to politics. (Disclosure: Myriad is a product of Dastan, Decrypt’s mum or dad firm.) Polymarket, valued now at $9 billion, commands roughly 31% of the market, while Kalshi—which this day presented a funding spherical that values the firm at $5 billion—holds around 66% of the market, in accordance with data from Dune.
However the road for Polymarket has been a lengthy one.
In 2022, the CFTC fined Polymarket $1.2 million and successfully banned it from the U.S. over alleged violations of “swap data reporting and recordkeeping guidelines.” Even so, the prediction market gained mainstream prominence final one year as users generated billions of greenbacks price of procuring and selling volume making a wager on the tip outcomes of the U.S. election.
Coplan, Polymarket’s founder, had his residence raided by the FBI final one year following the election, with federal agents seizing his cell phone and electronics in the technique. Peaceful, his trade grew: The firm raised a form of of millions from principal investors, similar to Coinbase, Peter Thiel’s Founders Fund, and Steve Cohen’s Point72, growing its valuation to $1.2 billion in July—accurate because the DOJ and CFTC closed their investigations into the firm with out filing prices.
The Data, citing unnamed sources, reported in June that Polymarket would offer token warrants to investors in its July spherical, granting those investors the very most practical to amass Polymarket tokens might well maybe enjoy to the firm originate them. The tokens will seemingly be extinct to validate outcomes of their prediction markets, sources told The Data at the time.
Later in July, Polymarket presented its acquisition of the CFTC-regulated derivatives trade QCX, signaling its return to the U.S. market. In September, the CFTC issued a no-action letter to QCX, successfully granting Polymarket a inexperienced gentle to relaunch its prediction markets in the States.
Polymarket, by means of QCX, self-certified its first U.S. prediction markets for sports actions and elections final week, gaining CFTC approval to reopen to U.S. users as early as October 2. The firm spread out a waitlist for U.S. users earlier this week, accurate as hypothesis over a Polymarket token regained steam.
On Myriad, the percentages that Polymarket would hiss its token this one year jumped as excessive as forty five% following Coplan’s put up on X. Those odds enjoy since dropped to around 22%.
