Polymarket has sparked speculation about a potential token airdrop following the U.S. elections.
The decentralized prediction market platform has not confirmed the rumors, but users have reported receiving messages hinting at future rewards. The platform’s growing popularity, bolstered by record trading volumes during the elections, has fueled excitement about its next steps.
Polymarket , A Famous Betting Crypto Platform, To Give Airdrops? Previously, Polymarket Is Being Said To Consider Launching A Token As For Today, Polymarket Has Secured Total Of $74 Million Funding , Including From Vitalik ButerinRuggedPikachu#Polymarket #Airdrop… pic.twitter.com/KbSBajzeJ8
— Chad All-In Top Daily Crypto News (@Chad_allin) November 9, 2024
Rumored token launch and possible airdrop
Polymarket is reportedly preparing to launch its token, with whispers of an airdrop targeting users who reinvest their winnings into new markets. Although the platform has not officially announced these plans, it has teased users with messages promising rewards and future “drops.” A widely circulated image, shared among users claiming their winnings, featured the phrase “We Predict Future Drop,” adding to speculation.
If the rumors prove accurate, the token launch could mark a major milestone for the decentralized betting platform. Earlier reports in September suggested Polymarket was exploring plans to raise $50 million and introduce its token. While no formal announcement followed, the platform’s massive trading activity during the elections has reignited discussion. According to Dune Analytics, Polymarket’s trading volume peaked at $371 million on November 6, contributing to $3.6 billion wagered on the November 5 election outcome.
Regulatory scrutiny in France
Polymarket’s rapid growth has also attracted regulatory attention. France’s National Gambling Authority is investigating the platform and considering a potential ban. This comes after a French user reportedly earned $80 million from a $45 million bet on Donald Trump. French media outlet The Big Whale has highlighted the regulator’s concerns over Polymarket’s operations within the country.
The investigation could pose challenges for the platform, which operates on the Polygon blockchain and relies on smart contracts for seamless trading and payouts. Despite these developments, Polymarket continues gaining traction among users and investors.
High-profile support and future outlook
Polymarket has received backing from prominent figures, including Ethereum co-founder Vitalik Buterin and PayPal co-founder Peter Thiel. The platform raised $45 million in its Series B funding round earlier this year, following a $25 million Series A round that included investors like Polychain and Airbnb co-founder Joe Gebbia.
Vitalik Buterin recently praised Polymarket in a blog post, describing it as a pioneering info finance platform. He highlighted its role in providing transparent financial insights during the elections and suggested that its model could influence how decentralized autonomous organizations (DAOs) operate. As speculation around a potential airdrop builds, the crypto community is closely watching Polymarket’s future developments.
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