Key facts:
According to sources, Polymarket aims to raise USD 50 million with this launch.
Some Bitcoiners are critical of Polymarket’s initiative.
Polymarket, the leading prediction market platform, is reportedly considering a token issuance valued at over $50 million.
The information was given by the newspaper The Informationwhich is based on sources who preferred to remain anonymous. These tokens would serve, according to the informants, to reward those who verify information on the platform.
“Investors in this round will receive token warrants, granting them the right to purchase tokens if Polymarket launches them at a later date,” the report said, citing sources. This means that Polymarket has not made a final decision on the tokens and there is no guarantee that a launch will happen, but it is looking into the matter.
“The prediction site could use the tokens as a way for users to validate the outcomes of real-world events,” the sources added.
In May, Polymarket raised $45 million in a Series B round. The decentralized prediction platform has collected nearly $1 billion in bets on who will be the next US presidentVice President and Democratic challenger Kamala Harris currently leads with an estimated 50% chance of victory, according to data from the platform.
As explained in the Cryptopedia (educational section of CryptoNews), Polymarket is built on the Polygon network and uses smart contracts to automate transactions between different tokens and manage user operations. From financial markets to politics, sports and pop culture, Polymarket offers a wide range of topics to forecast on.
The communicator known as BTCAndrés spoke about the launch of a token by Polymarket. With a certain irony, this bitcoiner published on his X account:
«[Polymarket] They worked without a token. But like ‘if they can do it, they will do it’, if they can print money, they will print it.
BTCAndrés, bitcoin communicator.