Blockchain-based prediction market platform Polymarket is in talks to raise more than $50 million in new funding and is considering the possibility of issuing a token, according to a report in The Information. Investors in this financing will receive token warrants and will have the right to purchase tokens if tokens are issued in the future. However, Polymarket has not yet made a final decision and there is still no clear timetable for the token issuance.
Polymarket’s consideration of a token launch comes at a time when the platform is experiencing a surge related to staking in the upcoming election. The platform allows users to trade the results of various events, including political elections, using cryptocurrencies. If Polymarket implements a token issuance, it may provide the platform with additional resources to expand its business and products in the prediction market space.
Blockchain has reported that Polymarket, which was launched in 2018, is currently the most popular decentralized prediction platform in the world. This year’s US presidential election has successfully driven a significant increase in platform traffic. The company announced the completion of Series B financing in May this year, raising US$45 million, led by Founders Fund, a venture capital company owned by Silicon Valley venture capital godfather Peter Thiel, with participation from Ethereum co-founders Vitalik Buterin and Dragonfly Capital.
〈Prediction market platform Polymarket is negotiating to raise US$50 million in new funds, news: considering the possibility of issuing tokens〉 This article was first published on "Blocker".
