Polymarket, a decentralized prediction platform, is reportedly considering a token launch valued at more than $50 million. According to The Information, the funds raised would help support the platform’s operations and expansion within the crypto betting space.
Potential Token Launch on the Horizon
Polymarket’s potential token launch would involve investors receiving token warrants, granting them the right to purchase tokens if and when they are officially launched. The tokens could play a pivotal role in allowing users to validate the outcomes of real-world events, adding a new layer of utility to the platform.
Polymarket, which raised $45 million in a Series B round in May, has attracted high-profile investors such as Peter Thiel’s Founders Fund and Ethereum co-founder Vitalik Buterin. The platform has garnered significant attention, especially with the upcoming U.S. presidential election, as nearly $1 billion in wagers have been placed on the outcome.
While no final decision has been made regarding the token launch, Polymarket’s rise in the crypto space highlights the growing popularity of decentralized prediction markets.
Source: The Block
