Polymarket Token Is Coming, But Likely Not This Year: Sources

Core Insights - Polymarket plans to launch its own native crypto token, likely not until next year, following a $2 billion investment that values the company at $9 billion [1][5] - The company aims to regain a foothold in the U.S. market before launching the token, which is currently dominated by competitor Kalshi [2] - Speculation about the token has been ongoing for over a year, with hints of potential user rewards and drops, but no official announcement on its utility has been made [3] Company Developments - Polymarket's trading volume has surged, with over $1.4 billion generated collectively by major players in the prediction market, including Polymarket and Kalshi [5] - Currently, Polymarket holds approximately 31% of the prediction market, while Kalshi commands around 66% [5] - The company faced regulatory challenges in 2022, including a $1.2 million fine from the CFTC and a ban from the U.S. market, but it gained prominence through significant trading volumes during the U.S. election [6] Leadership and Funding - Polymarket's founder, Shayne Coplan, experienced a raid by the FBI last year, yet the company continued to grow, raising hundreds of millions from notable investors [7] - The company's valuation increased to $1.2 billion in July after investigations by the DOJ and CFTC concluded without charges [7]