Simply put
- Polymarket is set to introduce its own crypto token, but it’s not expected to be released in the coming months.
- Prediction markets aim to reestablish their presence in the US following a ban in 2022.
- This development comes after a notable $2 billion investment from Intercontinental Exchange, which values Polymarket at $9 billion.
Polymarket is looking to roll out a native crypto token, but it seems like it won’t be happening until next year, according to sources.
Recently, Intercontinental Exchange announced a prediction market business, putting a $9 billion valuation on Polymarket, following its plan to re-enter the US market after a previous ban by the CFTC in 2022. I mean, it’s a significant move considering the circumstances.
Before launching any tokens, Polymarket wants to secure its footing in the US market, which is currently led by other competing prediction platforms, as noted by sources.
Polymarket’s CEO, Shane Coplan, hinted at the new token on social media, featuring the “POLY” ticker alongside major cryptocurrencies like Bitcoin and Ethereum, sparking renewed interest. Speculation about this token has been in the air for quite some time, but concrete plans haven’t been disclosed yet. They’ve also teased “rewards and drops” for loyal users, but details on the actual utility of these tokens, once available, remain vague.
Polymarket hasn’t provided an immediate comment on this information.
Interestingly, the prediction market sector is thriving in 2025. Just last week, Polymarket, along with Kalshi, Limitless, and Myriad, reported over $1.4 billion in trading volumes, covering a variety of topics from sports to politics. Polymarket currently holds a $9 billion valuation, roughly 31% of the market share, while Kalshi just announced a funding round valuing it at $5 billion, capturing about 66% of the market.
However, the path hasn’t been easy for Polymarket.
Back in 2022, the CFTC fined the company $1.2 million due to alleged regulatory violations, essentially blocking its entry into the US. Yet, interest in prediction markets surged last year, especially during the US election, with users trading billions of dollars.
Coplan, the founder of Polymarket, faced legal issues as well, including an FBI search and seizure of his devices after the election. Despite these challenges, the company flourished, attracting substantial investments from notable backers like Coinbase and Peter Thiel, boosting its valuation significantly.
As reported, Polymarket aims to offer token warrants to investors, who would be able to purchase tokens once they are released. Officials mentioned that these tokens could help validate prediction market outcomes.
In late July, Polymarket announced it was acquiring QCX, a CFTC-regulated derivatives exchange, signaling its comeback in the US market. The CFTC then issued a no-action letter, allowing QCX to reopen prediction markets in the US.
Recently, Polymarket self-certified and secured CFTC approval, becoming the first US prediction market for sports and elections. They’ve opened a waiting list for US users, just as the buzz around the Polymarket token begins to heat up again.
On Myriad, the odds of Polymarket unveiling the token this year shifted significantly after Coplan’s post—reportedly increasing to around 45% before settling back to about 22%.
