Polymarket Executive Confirms Tokens and Airdrops—Following Predictions of Market Return to US

Polymarket CMO Matthew Modaver said degenz live— show from decryptionLagradio, a sister company ofTokens and airdrops for prediction markets will be officially launched. Modaver said the company wants the token to have “real utility” and “lifespan” and ultimately be something that “works out,” which is why the company is taking its time with the rollout.

But for now, Polymarket is focused on relaunching the product in the U.S. after a CFTC settlement effectively banned it in 2022. The Polymarket US app is currently in early testing and requires users to: receive an invitation To use the Platform.

Once the major prediction markets “take care of business” in that regard, they will return to launching the POLY token, Modaver said.

“We just want to make sure that as we shift our focus to tokens, that is one of our core priorities. At this point, our core priority is launching in the US,” Modaver explained. “It’s not that we’re not looking and getting ready, but obviously our focus will shift there when the time is right.”

In 2022, the CFTC fined Polymarket $1.2 million for violating the Swaps Data Reporting and Recordkeeping Regulations, which effectively banned the platform in the United States.

Still, the platform has continued to grow to become the industry giant it is today, a trusted source of sentiment in US elections and beyond. But problems continued for Polymarket, and CEO Shane Coplan resigned. the house was searched His cell phone and electronic devices were seized by the FBI late last year.

In July, Polymarket acquired derivatives exchange QCX; no action letter Reported by the CFTC in September. With this move, Polymarket effectively green light He is aiming for a fresh start in the United States, which he has been preparing for ever since.

What does Mr. Modaver’s statement confirm? decryption reported earlier this month that the Polymarket token is coming, but will focus on re-entering the US before launching the token.

The Polymarket token has long been rumored and teased, even CEO Shayne Coplan Post a POLY ticker At the beginning of the month, X. Similarly, informationreported in June, citing unnamed sources, that Polymarket would offer token warrants to investors in the July round, giving them the right to buy POLY tokens if they were released.

Users on the platform Feed your potential airdrops At least since last year. However, strategies have evolved and farmers are now “more sophisticated” method to hide attempts to inflate potential token allocations.

As a result of the announcement, the odds are countless Polymarket has moved towards announcing tokens through official channels by the end of the year. Last week, users believed there was only an 11% chance that the token would be announced by 2026, but on Friday that probability had jumped to 29%. (Disclosure: Myriad decryptionDastan, the parent company of. )

This follows Polymarket Valued at $9 billionthanks to a $2 billion investment from Intercontinental Exchange, owner of the New York Stock Exchange. Under this agreement, Coplan youngest self-made millionaireaccording to bloomberg.

“Jeff[Sprecher, CEO of Intercontinental Exchange]is a big believer in tokenization,” Coplan said. TBPNafter the transaction. “Polymarket is the largest consumer product built on tokenization. Under the hood, all prediction markets are actually tokenized, and there are yes tokens and no tokens. So there are a lot of ideas that we’ve considered.”