Polymarket Aims for U.S. Return Before Launching Native Token
Polymarket is gearing up to launch its own native token, but not just yet.The prediction market platform plans to delay the token launch until it fully reestablishes itself in the U.S. market. This move follows its 2022 U.S. Exit
Polymarket is gearing up to launch its native token, but not just yet. The platform plans to wait until it fully reestablishes itself in the U.S. market. This move follows its exit from the country in 2022 due to regulatory issues.
Polymarket’s return strategy involves acquiring QCX, a CFTC-approved exchange. This acquisition has paved the way for the company’s comeback. The CFTC has issued a no-action letter, allowing Polymarket to operate in the U.S. as early as October.
Recently, Polymarket’s founder, Shayne Coplan, hinted at the token launch by listing “POLY” alongside major cryptocurrencies. however, sources reveal that the token won’t debut until the company’s U.S. reentry is complete. The token is expected to offer rewards and drops for loyal users.
A significant $2 billion investment from Intercontinental Exchange (ICE) has also boosted Polymarket. This investment values the company at $9 billion and expands its reach into traditional finance.
Through this partnership, Polymarket’s market data will be shared with financial institutions globally. This integration aims to bring prediction insights into traditional finance channels.
While Polymarket hasn’t officially detailed the token’s features, its launch is anticipated to follow the company’s successful U.S. return.
