Polymarket Considers Token Launch as It Prepares to Raise $50M in New Funding

The potential token launch comes as the company is in discussions to raise over $50 million in new funding. While nothing is set in stone, The Information sources suggest that Polymarket’s new round of funding and token launch could be one of the most significant developments in the crypto space

Prediction market platform Polymarket is reportedly planning to launch its own token and begin trading it on secondary markets.

 

The potential token launch comes as the company is in discussions to raise over $50 million in new funding. While nothing is set in stone, The Information sources suggest that Polymarket’s new round of funding and token launch could be one of the most significant developments in the crypto space since the market’s recovery from the 2022 collapse.

 

Investors participating in this funding round are expected to receive token warrants, which would allow them the option to buy tokens if Polymarket decides to proceed with the launch.

 

The use of the token could go beyond traditional prediction markets. Sources have hinted that these tokens might be used to validate the outcomes of real-world events. Surging Market Activity

Polymarket has been steadily gaining popularity in the blockchain and crypto space, especially with its approach to prediction markets. Built on both Ethereum and Polygon, Polymarket allows users to buy and sell shares in the outcome of future events, using crypto as a medium.

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